Deutsche PBB doubles back around for tighter senior print

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By Tyler Davies
06 Mar 2019

Deutsche Pfandbriefbank on Wednesday tapped a senior bond sold in January at a spread that was 8bp tighter than the original re-offer level. It appeared in a busy market, with New Zealand’s ASB Finance also selling senior debt in the euro market.

Deutsche Pfandbriefbank had wanted to sell a €500m February 2023 preferred senior bond on January 10, but withdrew the transaction when it could drum up a large order book around a spread over 80bp over mid-swaps.

It then returned to place the transaction at the same spread on ...

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