Santander Totta makes successful leap from standing start
Portugal’s Santander Totta priced its debut covered bond on Wednesday, a Eu1bn three year at 41bp over mid-swaps. Unlike the new issues of the last fortnight, the deal came to market without significant lead orders, but the tactic worked and the deal was safely oversubscribed. Meanwhile, Deutsche Postbank has issued a mandate for a new seven year euro benchmark.
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