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FIGCovered Bonds

LBB blow-out shows the magic of Pfandbrief

Around Eu3.5bn of orders within one hour for Landesbank Berlin’s three year jumbo public sector Pfandbrief this morning allowed the bank to achieve pricing at the tight end of its mid-swaps flat to minus 1bp range, making it the first benchmark covered bond to be priced inside Libor this year.

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