BES kicks off week two, new name in the pipeline
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Covered Bonds

BES kicks off week two, new name in the pipeline

Banco Espiríto Santo’s inaugural covered bond, a three year mortgage backed benchmark, had gathered over Eu1.4bn of orders by noon, with the pricing fixed at 20bp over mid-swaps, from initial guidance in the plus 20bp area, getting the week off to an encouraging start ahead of further expected supply.

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