WL takes jumbos into single-digit territory
Benchmarks launched this (Thursday) morning for BNP Paribas Public Sector SCF and Westfälische Landschaft Bodenkreditbank were two and three times oversubscribed, respectively. Such strong support, notably from German accounts, enabled the Pfandbrief to become the first jumbo priced in the single-digits over mid-swaps since August 2008, and another deal has already been announced.
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