Pre-migration untagged articles
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Aareal Hypothekenbank made an impressive debut in the jumbo Pfandbrief market this week, pricing its Eu1bn five year mortgage backed deal flat to mid-swaps.
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Indian mining company Vedanta Resources issued the first major convertible bond of the year this week, but investors shunned the $725m deal, leaving Barclays Capital long of the paper.
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Indian mining company Vedanta Resources issued the first major convertible bond of the year this week, but investors shunned the $725m deal, leaving Barclays Capital long of the paper.
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Erste Europäische Pfandbrief-und Kommunalkreditbank of Luxembourg launched the first issue of lettres de gage hypothécaires this week, a Eu100m floating rate note. However, rather than being directly backed by mortgage loans, the deal is backed by mortgage-backed covered bonds that are UCITS eligible. This is the first time that a covered bond backed predominantly by other covered bonds has been created.
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Dealers reported good flows at the beginning of the week, which slowed down as the week went by. Yesterday (Thursday) saw flows of around $13bn.