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Derivatives

German Mortgage Bank Plans EUR1 Billion CLN

Wuerttembergische Hypo is structuring a EUR1 billion (USD975 million) credit-linked note and looking for a firm to distribute it. The German mortgage bank is issuing the note to remove risk from its balance sheet and optimize its return on equity, according to an official in Stuttgart.

Damian Wosnitzka, an official in the structuring group in Stuttgart, said the structure would not be finalized until it chooses a lead manager. He would not comment further on the deal.

 

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