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Aareal tees up sterling FRN debut with ‘attractive’ IPTs

Posted on 23 April 2013


Aareal Bank is out with initial price thoughts for its first public sterling covered bond and the third issue in the currency in a week, with the 40bp over area for a £200m (Eu235m) three year FRN the largest spread for a new issue in the currency this year but not cheap on a relative value basis, according to a lead syndicate banker...

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