Helaba prints debut sterling covered bond, marking return of prodigal pound buyers
Helaba attracted sterling funding for the first time since 2007 with its debut covered bond in the UK currency. The sterling investor base had largely shunned the issuer since it lost its state guarantee in 2005, but the bank hopes its latest print will be the first of many.
The bank printed a £70m one year Hypothekenpfandbrief paying three month sterling Libor plus 57bp on Monday, following a reverse enquiry. Helaba is planning to raise around 13bn in 2012, of which roughly 6bn will be unsecured and 7bn covered.
The German Landesbank was the busiest sterling issuer among
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.