Dexia Kommunalbank returns after three year absence

By Bill Thornhill
08 May 2014

The state owned Dexia Kommunalbank is expected to return to the covered bond market for the first time in three years. Being among the lowest rated bonds issued this year from Germany, the spread pick-up should prove attractive.

The German subsidiary of Dexia Group plans to go on the road with Barclays, Commerzbank, DZ Bank and HSBC during the week starting May 19, and update investors on its public sector Pfandbrief programme.

A new benchmark issue is expected, which will refinance the redemption of an ...

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