Helaba solos in slow start but pipeline growing
A Eu750m maximum four year mortgage Pfandbrief for Germany’s Landesbank Hessen-Thüringen (Helaba), priced on Tuesday morning, is the week’s only sizeable new covered bond so far. However, BNP Paribas is due to launch a new issue off its public sector obligations foncières programme, market participants expect Italy’s Intesa Sanpaolo to inaugurate a new, mortgage covered bond programme, and Banca Popolare di Milano has mandated for a new issue following investor meetings. Read EuroWeek on Friday to find out how primary market activity unfolds this week.
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