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Guarantor: Fortis Bank SA/NV
Amount: Eu100m lower tier two capital
Maturity: March 19, 2012
Issue price: 101.975
Coupon: 4.5%
Spread at launch: 45bp over mid-swaps; 58bp over the 5% April 2012 Bund
Launched: Tuesday February 10
Lead mgr: Fortis Bank
Bookrunner's comment:
This is a Belgian public issue. Its subscription period starts on Monday as this is a retail transaction and as such will be offered though our retail network. Because of this, it is quite difficult to say how the deal will fare at the moment, although we are very confident and may...