German bankers, who have been busy nursing their sore heads after celebrating their country’s World Cup victory on Sunday night, will not have been overly burdened by DG Hypothekenbank’s drive-by Pfandbrief syndication on Monday. Being the rarest issuer from one of the most technically squeezed jurisdictions in Europe, a strong outcome was never in doubt. Painkillers may however be required for the allocation process.
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