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FIGCovered Bonds

BBVA’s slipstream sucks in trio of deals

For the second straight day there has been primary issuance across the curve in covered bonds. Nordea Bank Finland is the latest name to come with the popular 10 year tenor, while Intesa Sanpaolo — the third Italian issuer in as many days — is in the market with a five and a half year benchmark. And the Spanish resurgence continues, with Banco Sabadell launching a two year cédulas hipotecárias — which is expected to benefit from residual demand left over from Banco Bilbao Vizcaya Argentaria’s heavily oversubscribed deal on Tuesday.

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