As the jumbo Pfandbrief celebrated its 10th birthday, a healthy June deal pipeline promised to help keep FIG issuance bubbling and support overall primary market volumes. Bankers predict around €20 billion of covered bond issuance this month, with smaller, illiquid deals adding €3 billion to the total. Nearly half of that supply will come from Germany.
At the time of writing, Bayerische Hypo-und Vereinsbank (HVB) was planning a rare public sector Pfandbrief and was aiming to issue between €1.25
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