Aareal and PBB double Sonia issuance

By Bill Thornhill
22 Apr 2021

Aareal Bank and Deutsche Pfandbriefbank (PBB) issued highly successful Sonia linked Pfandbriefe this week, doubling the supply seen so far this year.

The two £500m deals doubled covered bond supply to date in 2021 to £2bn, a small fraction of that seen in the first five weeks of 2020 when eight issuers tapped the market for £7.75bn.

Aareal managed to attract healthy demand for its first Sonia covered bond, ...

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