German Lender Offers First Covered Bond Since 2008

13 Jan 2011

Norddeutsche Landesbank has issued its first covered bond since 2008, a €1 billion ($1.33 billion) no-grow 10-year offering.

Norddeutsche Landesbank has issued its first covered bond since 2008, a €1 billion ($1.33 billion) no-grow 10-year offering. The bond attracted 45 investors, with banks accounting for 63% of the total; other financial institutions, 28%; central banks, 6%; insurers 2%; and the remainder to smaller investors. Germans represented ...

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