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0.75% Jun-31 GGB tap - size set at E2.5bln

EGB SYNDICATION
  • DJ report that the size of the 10-year GGB syndicated tap is E2.5bln with books in excess of E29bln.
  • This is a little smaller than the E3.0bln we had expected, but as we noted yesterday we think there is a chance that Greece uses favourable funding conditions in H2 to repay its remaining IMF debt of E1.7bln.
  • Final spread set earlier at MS+82bps (original guidance MS+90bps area, revised toMS+85bps (+/-3bps)* Books above E26bln - Bloomberg
  • Bookrunners: BNPP, DB (B&D), GS, HSBC, JPM, Nomura

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