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FIGCovered Bonds

BNPP deal good news, but not great news

BNP Paribas this (Monday) morning launched the first public unguaranteed senior unsecured euro transaction since Lehman Brothers collapsed in mid-September. While bankers were pleased to see that unguaranteed funding for financial institutions is feasible, the deal did not convince everyone of the viability of jumbo covered bond issuance in the near future.

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