Pfandbrief duo enjoy solid investor response

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By Bill Thornhill
19 Sep 2019

German Pfandbrief issuers DZ Hyp and Landesbank Hessen-Thüringen Girozentrale (Helaba) enjoyed strong receptions for their €1bn Pfandbriefe issued this week. Bankers suggested that the German market had a good chance to perform.

Helaba opened order books on Thursday for a benchmark 10 year trade with initial guidance of 5bp over mid-swaps. The deal was quick to build, with leads ABN, BNP Paribas, Helaba, NatWest Marketsand UniCredit collecting orders of more than €1bn in the first hour. 

According to one lead ...

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