NIBC and RLB-NW keep 10s busy in covered bonds

pair of tens
By Bill Thornhill
16 Jan 2018

NIBC and Raiffeisenlandesbank NiederÖsterreich-Wien (RLB NW) found solid demand for their pair of €500m 10 year covered bonds issued on Tuesday. But with the tighter Austrian deal extracting more demand at a tighter spread, investors clearly showed a preference for the hard bullet maturity.

RLB-NW was set to issue a €500m 10 year, Aaa-rated, mortgage-backed, hard bullet Austrian covered bond at flat to mid-swaps on Tuesday with a pre-reconciled orders of €1.25bn.

The issuer had mandated Barclays, Erste Bank, ING, NordLB, and Raiffeisen Bank International on Monday. 

Initially leads ...

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