Hannover to take sub-benchmark sized route

Sparkasse Hannover has joined Wüstenrot Bausparkasse in the euro covered bond pipeline. Both issuers are likely to get strong executions for their sub-benchmark Pfandbriefe which may no longer need to offer a premium relative to benchmark deals. At the same time, Sparebank 1 Boligkreditt has mandated leads to market its first covered bond in sterling.