Buyside Challenged to Price Covered Bond Debut

May 1, 2012

Global Bank is set to price what would be the region’s first covered bond as soon as Wednesday, though investors find it tricky to find the appropriate pricing level for the debut. The Panamanian bank was scheduled to finish a roadshow Monday, and the buyside reported no solid price indications yet for the deal of up to $200m, at a 5-7-year tenor with a legal maturity of 30 years. “Interesting deal, but a shot in the dark in...

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