BayernLB to price tightest covered bond of the year

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By Bill Thornhill
26 Apr 2021

Bayerische Landesbank (BayernLB) was set to price the tightest covered bond of the year on Monday and the tightest Pfandbrief since late 2018, boding well for two follow-on transactions from Muenchener Hypothekenbank and Natixis Pfandbriefbank.

BayernLB was in the market with a €500m mortgage Pfandbrief to be priced at 4bp through mid-swaps with unreconciled demand of over €2.2bn on Monday through joint leads BNP Paribas, ING, Natixis, Santander and its own syndicate desk.

BayernLB had mandated leads on Friday for a €500m no-grow deal. ...

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