Mid-Swaps?

[serp]

Can anyone tell me what "mid-swaps" mean? I'm reading an article on the ANZ and the sentence of interest is as follows:

"The fixed rate Euro issue was launched at mid-swaps + 15 basis points area."

Can anyone tell me what this sentence actually means?

I've been looking around for a definition on 'mid-swaps" but to no avail!

Thanks in advance

serp

 

[serp]

Perhaps you guys know of somewhere else I could ask this question? Like another forum or something?

Thanks

 

[ice]

"Mid-swap" is just price calculated as the midpoint between the bid/offer on currency trades.


ice