PBB takes fives in size
![Five_euro_note_Adobe_230x150](https://assets.euromoneydigital.com/dims4/default/933fde1/2147483647/strip/true/crop/230x150+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Ff7%2F98%2F958bcf9cd05f11388e664d467a33%2Ffive-euro-note-adobe-230x150.jpg)
Deutsche Pfandbriefbank’s (PBB) decision to issue a five year covered bond this week, instead of the more usual staple of seven or eight year deals, meant it was able to issue in a larger than normal size and pay little new issue premium.
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