Møre finds solid covered demand as BayernLB mandates

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By Bill Thornhill
30 May 2017

Møre Boligkreditt found strong demand for its first euro covered bond which, because of its sub-benchmark size, offered substantially more spread than similar bonds. At the same time BayernLB said it would start a roadshow for a sterling senior unsecured and covered bond.

After completing a roadshow last week, Norwegian bank Møre Boligkreditt opened books on Tuesday for a €250m no-grow five year covered bond.

Joint leads LBBW and Nordea priced the deal at 7bp over mid-swaps with orders in excess of €400m. The final spread compared with an initial starting level ...

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