April 23, 2024 09:11 GMT
RTE FV
CREDIT SUPPLY
- FV looks to be around MS+75-80bps and MS+115-120a – noting low cash prices across much of the curve e.g. 2040s at EUR 68, 2049s at EUR 61
- RTE went to market twice last year; in June for a EUR 1bn 12y that tightened 27.5bps to price at MS+85bps with a NIC of ~10bps and a cover of 2.7x and in November for a EUR 500mn 8y Tahar tightened 37bps to price at MS+58bps with a NIC of ~3bps and a cover of 3.6x.
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