Erste shows 10s in demand — for the right name
Erste Group attracted solid demand for its 10 year covered bond on Tuesday and, by pricing the transaction with a relatively slim new issue premium, it helped assuage concerns about the appropriateness of this tenor that followed deals issued last week.
Demand for 10 year deals issued last week by Compagnie de Finacement Foncier and CaixaBank was not particularly compelling, and since then borrowers have tended to issue shorter or longer covered bond maturities.But on Tuesday, Erste Group showed that, for the right name and spread, ...
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