NordLB
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◆ Spread tightened by 8bp from IPTs ◆ Banker said order book quality stayed high despite losing some investors ◆ Second Czech covered in two days -
◆ Czech bank's first issue since May ◆ Mandate announcement yielded 'decent feedback' ◆ CEE issuers active in covereds this year
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◆ Issuer pays small new issue premium ◆ Order book showed 'more than enough demand' ◆ Four German banks issued covereds in past two weeks
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◆ CFF tightened spread by 6bp ◆ CFF and Hypo Vorarlberg Bank paid small concessions ◆ NN Bank attracted largest order book of the day
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◆ BMO's floater came after Crédit Agricole’s last week ◆ Banker said floaters are becoming more popular ◆ Canadian bank's sixth covered this year
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◆ Intesa Sanpaolo's Slovakian arm is a frequent issuer ◆ Banker said 33bp could be through FV ◆ CEE covereds offer the widest spread, ABN wrote
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◆ Highest over-subscription rate of Monday's covered deals ◆ Fourth tranche from a Swedish issuer this year ◆ No grow format helped tighten spread
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State-owned bank Spuerkeess has not indicated when it will issue its first bond
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Borrowers have been busy already this year so the pressure to issue is off
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◆ German issuer's covered was 3bp inside previous tightest ◆ Banker said tightest covered for 2.5 years ◆ Third German covered bond this month
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◆ Belgian bank fixed the deal size at €750m ◆ Issuer's first covered since January 2025 ◆ Third Belgian covered in just over a week
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◆ FIG spreads show resilience to Iran war headlines ◆ Book grew after price tightened ◆ Could have tightened further on a different day, says rival banker
