Aug
14
Libor’s Heir Presumptive Prepared to Take on Bank Bond Market
By-
Financials or corporates may do SOFR-tied notes in months: TD
- Fannie Mae, World Bank have already done deals based on SOFR
The heir presumptive to dollar Libor is gaining traction with debt issuers and banks may be ready to sell floating-rate notes linked to it within months.
That’s the view of Toronto-Dominion Bank, which was involved with managing the first two bonds ever tied to the new secured overnight financing rate. Those note sales, which both took place within the past month, raised $6 billion for the government sponsored enterprise Fannie Mae and $1 billion for the World Bank…
Libor’s Heir Presumptive Prepared to Take on Bank Bond Market
