LBBW with gravity-defying jumbo at minus 1bp
Landesbank Baden-Württemberg launched a Eu1.5bn 5-1/2 year public sector covered bond priced at 1bp through mid-swaps yesterday afternoon (Wednesday) — the same level at which the German bank priced a Eu2bn five year deal to re-open the market in late September. The deal came just a day after OTP launched Hungary’s first benchmark sized deal, a Eu1bn deal that was priced at 65bp over mid-swaps.
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