Eurohypo widens guidance after sounding

22 Oct 2009

Eurohypo priced a Eu1bn long five year mortgage Pfandbrief in the middle of guidance on Monday but only after widening the level it went out with after meeting with resistance when pre-sounding at a tighter level last Friday (October 16).

Barclays Capital, BNP Paribas, Commerzbank, Deutsche Bank and NordLB sounded the Eurohypo issue in the low 20s, a level that some investors considered aggressive. One German fund manager, for example, said that such guidance could not be considered cheap and would result in limited interest from his company.

When ...

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