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FIGCovered Bonds

NordLB’s return flight funds cheaply but without enthusiasm

Norddeutsche Landesbank this week issued its second Flugzeug Pfandbrief at much tighter levels than its debut last year, but was unable to attract anything like the same scale of interest. The funding was a lot cheaper than aviation ABS backed by much stronger collateral, illustrating high confidence in the Pfandbrief framework.

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