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FIGCovered Bonds

Doubts over Deutsche Pfandbriefbank’s sterling debut

Deutsche Pfandbriefbank launched a £250m seven year covered bond on Tuesday morning at a level that surprised bankers who thought the bonds might not be fully placed. Leads Goldman Sachs and Nomura opened books at 90bp over Gilts, a level that one lead told The Cover offered relative value versus the seven year part of the curve.

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