LBBW brings first dollar covered benchmark since 2007
Landesbank Baden-Württemberg priced the first Eurodollar benchmark covered bond in nearly three years this week, targeting European and Asian accounts with a $500m three year public sector-backed issue on Thursday afternoon.
The last benchmark activity in Eurodollar format was in October 2007. Depfa ACS Bank issued a $2bn three year and Compagnie de Financement Foncier a $1.25bn three year.
Leads BNP Paribas, Citi, JPMorgan and LBBW built a book of more than $600m from around 35 accounts for the Reg-S
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