Helaba and Danske enjoy solid receptions

Landesbank Hessen-Thüringen Girozentrale (Helaba) issued a €1bn Pfandbrief on Wednesday at a final spread that was deeply through mid-swaps but got a strong response as it was able to offer a positive spread to Germany, where yields are negative. At the same time, Danske Bank issued this week’s only euro benchmark. As it was not eligible for the covered bond purchase programme it offered a quite attractive spread.