MuHyp flies, Deutche Bank lines up
With the macro backdrop swiftly deteriorating, German issuers have been quick to take advantage of the flight to safety bid. As many as five German borrowers have priced Pfandbriefe in the last two weeks, with Münchener Hypothekenbank (MuHyp) and HSH Nordbank issuing comfortably oversubscribed deals on Wednesday. MuHyp’s deal was the most remarkable, not only for its tight pricing, but for the large ex-German placement.
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