Insurers drive demand for LBBW’s 10 year

LBBW has issued the third 10 year German covered bond in just over a week, and the first €1bn sized deal from the country since July. Though the public sector-backed transaction was only marginally oversubscribed, demand was driven by high quality German insurers, who requested and got full allocations. Kreissparkasse Koeln has also opened books for a four year Pfandbrief.