Kaupthing Bank’s €600m fixed-rate note due May 2009
Barclays Capital and CSFB were joint bookrunners
Size may not be everything but Kaupthing Bank’s €600m fixed-rate note, the largest ever bond transaction issued by an Icelandic entity including sovereign issuance, was enough to grab the judges’ attention.
Following an intensive road show, a very healthy order book was built, with investors from 20 countries. The transaction was priced at a selling level of Euribor plus 25bp, and the €600m size was at the upper end of the borrower’s ambitions.
