New issues break first post-ECB lull
The primary market has finally sprung back into action after more than a week without new jumbo supply. Dexia Municipal Agency is expected to price a 15 year obligations foncières at 130bp over mid-swaps today, and Danske Bank has opened books on a seven year, with guidance set at the 125bp over area. Westdeutsche Immobilienbank yesterday broke the lull in primary market activity by pricing a Eu500m three and a half year Pfandbrief, at 55bp over mid-swaps. Read EuroWeek this Friday to find out more about this week’s deals.
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