Pfandbrief roundtable: New issuers search for a niche in the market

Pfandbrief-style debt is emerging from countries all over Europe, bringing new forms of collateral and legal structures to a market traditionally dominated by German issuers. The new issuers have attracted some new buyers, but are still finding it difficult to tap into investor bases in the US and Asia, partly because of euro weakness. Euromoney.com went behind the scenes at the International Bond Congress to ask some of the biggest German and non-German covered bond issuers what they want from arranging banks and how they are building investor confidence in their products. This roundtable first appeared on the internet at www.euromoney.com/pfandbriefe.