Banesto re-opens Spain, Banco Sabadell follows
As many as seven euro denominated covered bond deals were mandated and priced this week, taking advantage of the constructive mood that followed the European Central Bank’s announcement last week that it would support peripheral sovereign debt markets.
But, of all these deals, it was the Cédulas trades from Banesto and Banco Sabadell that really needed the big improvement in sentiment to stand any chance of getting away.
The ECBs new Outright Monetary Transactions programme, which will see it buy a sovereigns debt subject to that
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