Aareal and PBB double Sonia issuance

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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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