MuHyp prices Pfandbrief at tightest spread in 18 years

By Bill Thornhill
27 Apr 2021

Muenchener Hypothekenbank (MuHyp) issued its second ultra-long dated Pfandbrief of the year on Tuesday, flat to the curve and into good demand at the tightest spread for this tenor and longer in the past 18 years.

MuHyp mandated joint leads Barclays, BayernLB, Commerzbank, DZ Bank and NordLB on Monday for a €500m 15 year mortgage backed covered bond.

Order books were opened on Tuesday for a the deal due May 2036 with initial price guidance of 2bp over mid-swaps area.

After little ...

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