Swedbank goes short after spate of longer maturities to secure first mover advantage
Swedbank Mortgage this week became the first issuer to price a three year benchmark covered bond this year, aiming to distinguish itself from the longer dated issuance that had dominated supply so far.
Of the 10 benchmarks that had been priced before Swedbank launched its transaction on Tuesday, six had come with a seven year maturity and three with a five year maturity, with a Eu1bn four year cédulas hipotecarias for Banco de Sabadell the odd one out.
Martin Rydin, head of
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