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FIGCovered Bonds

BayernLB attracts decent foreign demand

BayernLB yesterday (Monday) tapped the covered bond market for a Eu1bn public sector backed Pfandbrief via joint leads BayernLB, Crédit Agricole, DZ Bank HSBC and SG. The 2.75% July 2016 priced in line with mid swaps plus 12bp area guidance on a modestly oversubscribed order book and particularly benefited from strong foreign investor demand.

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