QTC has announced it has tapped its July 2026 benchmark issue in a syndicated issue to the tune of $750 million. The initial indicated range was at EFP + 57.5-61.5bps but after over $1 billion of bids came in the guidance was dropped to EFP + 57.5-60.5bps. The final pricing was at EFP + 58.5bps, which gave a yield to maturity of 3.21%.
Just under 38% of the funds were allocated to fund managers (including hedge funds), 50% to banks and trading desks and 12% to central banks and SSAs (supranational, sub-sovereign and agency). QTC stated it had now completed its 2015-16 term debt borrowing program.
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