Pfandbrief issuers benefit from rarity, LTRO liquidity

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Pfandbrief issuers benefit from rarity, LTRO liquidity

Covered bond bankers of a bygone era could never have envisaged German Pfandbrief issuers benefiting from rarity value in a January window. But deals from Aareal Bank and Deutsche Pfandbriefbank (pbb) this week appeared to show this had become reality.

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