NRW.Bank was well subscribed for its inaugural Sonia-linked floating rate note on Tuesday, with the books closing just one hour after opening. Following initial price thoughts of 38bp area over the compounded Sonia rate on Monday, leads Nomura, RBC Capital Markets and TD Securities opened the books on Tuesday morning at the same level. About 30 minutes later, with the order book over £350m, the final terms ...
NRW.Bank’s inaugural SONIA-linked FRN saw strong demand, with the books for the £300m ($371m) deal closing one hour after opening. IPTs were 38 bp over the compounded SONIA rate.