Market to weigh SSA status as Germany sells pension ABS
A German government agency, the Bundes-Pensions-Service für Post und Telekommunikation, will sell a Eu6bn securitisation backed by claims against Deutsche Post, Deutsche Postbank and Deutsche Telekom in the coming weeks.
Lead managers Morgan Stanley (which advised on the project) and Deutsche Bank want the issue to be seen — and priced — as a government agency deal, since the German Federal Republic will ultimately ensure that the deal does not default.
However, other bankers questioned
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