First Ibor versus SOFR cross-currency swap trades

Ben St. Clair
20 Dec 2019

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Westpac and Citi have struck what is believed to be the first cross-currency swap referencing an unsecured Ibor and the US secured overnight financing rate, in a trade that also breaks ground in an important market for Australian financial institutions.

The $325 million one-year swap was struck on December 10 New York time and references SOFR on the US dollar leg and Australia’s bank bill swap rate, or BBSW, on the Australian dollar leg. The transaction was designed to swap a SOFR note issuance

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You already have an account with us*. Sign in below to continue.