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Prospect News home > News index > List of issuers F > Headlines for Federal Home Loan Banks (FHLB) > News item |
New FHLB $3 billion three-year globals oversubscribed ahead of pricing, talked at 86 bps
By Lisa Kerner
Charlotte, N.C., March 3 - Federal Home Loan Banks' planned three-year global bond offering was "subscribed and closed" by the end of business Tuesday, according to a trader.
The deal, announced earlier in the session Tuesday, is scheduled to price Wednesday.
Talk is 86 basis points over the three-year Treasury note.
That level is "in the context of where the market would be" for something this size, the source said.
Overall reaction to the global has been "very good" according to the source.
Barclays, Credit Suisse and Deutsche Bank are the lead managers. The syndication team includes 10 co-managers and a distribution group.
The bond will mature on April 13, 2012.
The bond has a short first coupon payable on April 13, 2009.
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