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The Grand Duchy of Luxembourg successfully returned to the market for EUR debt on Tuesday May 11th, 2010, with a EUR 2 billion institutional benchmark transaction, maturing on 18 May 2020 and paying a coupon of 3.375%. Joint bookrunners on this transaction were BCEE, BNP Paribas and Dexia Capital Markets, with BGL BNP Paribas acting as joint-lead manager (no books).
Investor response
- The mandated banks, sensing a turn in sentiment in the credit markets, gauged investor sentiment for such a transaction and scouted likely timing and guidance at the open. Given the supportive environment, it was decided to go ahead on this very day.
- Investor response was very brisk as soon as the mandate announcement hit the screens at 11 AM CET, confirming the right choice of...
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