DekaBank lacks ‘momentum’ amid rates sell-off

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By Bill Thornhill
05 Sep 2019

DekaBank managed to raise 10 year Pfrandbrief funding on Thursday, but with rates volatility spiking higher, the deal lacked lustre, similar to many covered bonds issued lately.

DekaBank was at press time set to price a €250m 10 year Pfandbrief at 4bp over mid-swaps from 5bp initially with demand of more than €300m, including €35m of joint lead interest. The deal was jointly led by DZ Bank, Dekabank and UniCredit.

“It’s not great, I was hoping ...

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