LBBW pays modest Pfandbrief premium

By Bill Thornhill
09 Sep 2019

LBBW issued a well subscribed €650m nine year public sector loan-backed Pfandbrief on Monday at a relatively tight new issue concession compared with many recent negative yielding covered bonds.

The €650m no-grow deal was priced at 1bp over mid-swaps with a concession of about 2bp, which is roughly half that paid by other recently issued Pfandbrief. Joint lead managers on the deal were Commerzbank, ING, LBBW, NatWest Markets, Rabobank and Swedbank.


Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial