iBoxx launches €500 million of notes

The notes comprise 100 equally weighted credits from 31 industry sectors listed by rating agency Moody’s Investors Service. The iBoxx company, which is owned by ABN Amro, Citigroup, Deutsche Bank, Dresdner Kleinwort Wasserstein and SG, said the launch met with strong investor interest from across Europe. The launch is the latest attempt by iBoxx to mount a challenge to its competitor Trac-x, the credit derivatives index run by JP Morgan Chase and Morgan Stanley.

The 5.25-year maturity notes were priced at 99.81% of par value with a coupon set at the three-month Euribor rate plus 30 basis points.

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