Eurohypo and SG jumpstart jumbos

Eurohypo yesterday negotiated a difficult price discovery process to issue a Eu1.25bn five year mortgage Pfandbrief at 100bp over mid-swaps in the first jumbo since Deutsche Postbank came to the market at the beginning of February. Not to be outdone, Société Générale this morning priced a Eu1.25bn public sector obligation foncière at the long end of the curve, securing funding for 10 years at 150bp over mid-swaps. Read EuroWeek this Friday to find out more about these borrowers’ forays into the market.