Covered trio to hit market with more negative yields

By Bill Thornhill
03 Sep 2019

Deutsche Hypo, Erste Group and Credit Agricole SCF have mandated leads for covered bonds that are all expected to carry negative yields.

Deutsche Hypo is planning to open order books for a €500m no-grow three year Pfandbrief rated Aa1. It has mandated ABN AmroCommerzbankDZ BankNatWest Markets and NordLB as lead managers.

The issuer’s outstanding 0.125% was indicated at 4.5bp through mid-swaps and recent three year deals from Berlin Hyp and ...

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