Public sector jumbo’s book underwhelms, but Eurohypo cites return to ‘more normal’ levels

Eurohypo launched its first public sector jumbo Pfandbrief in over two years this week, a Eu1bn five year deal that was priced at 12bp over mid-swaps on Thursday. A book in excess of Eu1.5bn underwhelmed some market participants away from the deal, but the issuer and leads said it was executed at the right price.