Danske targets long end
Danske Bank has launched a 10 year benchmark covered bond marketed at 65bp over mid-swaps. Its third euro benchmark this year, follows sub-Eu1bn transactions for Westdeutsche Immobilienbank and Ibercaja (Caja de Ahorros y Monte de Piedad de Zaragoza, Aragón y Rioja). WestImmo priced a Eu500m three and half year mortgage Pfandbrief at 23bp over mid-swaps on Monday, ahead of next week’s redemption of its only outstanding jumbo. Ibercaja sold a Eu500m five year cédulas issue at 65bp over mid-swaps on Tuesday. Read EuroWeek this Friday for more on this week’s deals.
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