After seemingly interminable negotiations and extended deadlines, the new Eurohypo has emerged, another example of the consolidation that looks likely to be the German mortgage banks’ best hope for a return to prosperity.
Although the merger is not due to be completed until mid-2003, the alliance of Deutsche Hyp, Rheinhyp and the original Eurohypo is ready to enter the market again. But its launch comes in the midst of a profound downturn in the covered bond market’s fortunes.
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