RLB Steiermark finds ‘compelling’ price for mortgage debut
Raiffeisen-Landesbank Steiermark built a solidly oversubscribed book for the only the second 15 year covered bond of the year, enabling leads to price inside guidance in what they said was still an issuers’ market, despite the more volatile macroeconomic backdrop.
The borrower wanted its debut mortgage covered bond to be a 15 year deal from the outset, said bankers on the deal. But it committed to the unusual maturity only after bankers gauged that there was enough interest from key investors.
"The 15 year tenor was chosen because it
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