Covered bond market passes multi-cédulas test

July 22, 2009 12:00 am

AyT Cédulas Cajas sold the first multi-cédulas issue since November 2007 on Tuesday afternoon, a Eu1.45bn five year issue. The Spanish deal had been seen as the biggest test of the covered bond market since the European Central Bank’s Eu60bn purchase programme was announced in early May. Read EuroWeek on Friday for what the deal’s success means for the market and for the latest developments in the ECB’s activity.

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