Rare 10 year puts Postbank close to agencies

Deutsche Postbank priced the first 10 year jumbo mortgage backed Pfandbrief in eight months on Wednesday. The deal emerged at the tightest re-offer for a covered bond with that maturity since the collapse of Lehman Brothers and close to agency levels.

  • 26 Mar 2010

Swedish Covered Bond Corp and Westdeutsche Immobilienbank also accessed the covered bond market in size in a hectic week dominated by Spanish supply (see separate story).

At Eu3.6bn, the order book for Postbank’s deal was by far the biggest for any of this week’s issues. It is comparable with ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 58,137.72 186 8.23%
2 JPMorgan 57,032.77 202 8.08%
3 Barclays 49,551.65 159 7.02%
4 Bank of America Merrill Lynch 42,095.04 147 5.96%
5 Deutsche Bank 38,217.89 137 5.41%

Bookrunners of All Syndicated Loans EMEA

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1 Bank of America Merrill Lynch 6,045.16 4 18.58%
2 BNP Paribas 1,742.18 7 5.36%
3 Credit Agricole CIB 1,539.94 8 4.73%
4 MUFG 1,257.24 4 3.87%
5 SG Corporate & Investment Banking 1,165.08 6 3.58%

Bookrunners of all EMEA ECM Issuance

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1 UBS 998.25 3 13.49%
2 Citi 693.55 2 9.37%
3 Morgan Stanley 572.72 3 7.74%
4 Bank of America Merrill Lynch 509.34 3 6.88%
5 Jefferies LLC 409.89 4 5.54%