By Aleesia Forni
Virginia Beach, June 10 – Germany’s Erste Abwicklungsanstalt priced on Wednesday a $500 million issue of 1% two-year notes (Aa1/AA-/AAA) at mid-swaps plus 7 basis points, according to a market source.
The notes sold at the tight end of price talk set in the mid-swaps plus 8 bps area.
Pricing was at 99.896 to yield 1.053%.
Barclays, BofA Merrill Lynch, Daiwa Securities and HSBC Securities were the joint bookrunners.
The public law agency is charged with winding up portfolios transferred to it and is based in Dusseldorf.
| Issuer: | Erste Abwicklungsanstalt
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| Amount: | $500 million
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| Description: | Notes
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| Maturity: | June 16, 2017
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| Bookrunners: | Barclays, BofA Merrill Lynch, Daiwa Securities, HSBC Securities
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| Coupon: | 1%
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| Price: | 99.896
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| Yield: | 1.053%
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| Spread: | Mid-swaps plus 7 bps
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| Trade date: | June 10
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| Settlement date: | June 16
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| Ratings: | Moody’s: Aa1
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| Standard & Poor’s: AA-
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| Fitch: AAA
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| Price guidance: | Mid-swaps plus 8 bps area
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