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FIGCovered Bonds

NordLB muddies jumbo Pfandbrief pricing waters

NordLB today (Wednesday) priced a Eu2bn five year bond guaranteed by the state of Lower Saxony. The deal was sold at 70bp over mid-swaps, just 5bp inside the Eu1bn five year public sector jumbo Pfandbrief issued by Landesbank Baden-Württemberg last week.

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