LBBW prices green Reg S Pfandbrief in line with 144A deals
LBBW attracted good demand for a $750m three year Reg S Pfandbrief on Tuesday, enabling the issue to be priced in line with where 144A deals had been indicated in the secondary market. A day later Deutsche Pfandbriefbank issued another three year.
LBBW’s $750m three year deal was priced at 24bp over mid-swaps, midway between where DNB Boligkreditt’s 144A March 2022 and Stadshypotek’s 144A April 2022 had been indicated in the secondary market.Reg S deals are usually placed with a smaller audience of investors than 144A deals, so LBBW ...
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