Demand booms for Credito Real as investors shift focus from Eastern Europe

Demand booms for Credito Real as investors shift focus from Eastern Europe

Credito Real drew $2.25bn of orders for its 5 non-call 3 year bond on Thursday, benefitting from emerging market investors’ shift in focus away from Eastern Europe and from pent-up demand for new issues. The Mexican bank increased the size of its deal by $50m and tightened pricing by 50bp on the strong interest. Lead managers Barclays, Bank of America Merrill Lynch and Credit Suisse priced the $350m transaction at par to yield 7.5%. They had opened books with yield guidance of 8% area, revising

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