Spread Development
The spread is a measure of the premium or discount in the yield of the respective bond to a reference interest rate (e.g. Euribor). The spread may also serve as a measure of a borrower's credit standing. The narrower the spread, i.e. the closer the yield of the bond is to the reference value, the lower the risk premium. It can thus be assumed that the borrower is of a sound credit standing. The following diagram shows the development of the spread of our bonds. This information is updated monthly.
November 2002 - October 2008
The swap spreads display unprecedented volatility in October, with debt markets experiencing high levels of uncertainty.
Source: Thomson Reuters