SEB AG today (Monday) announced a mandate for a Eu250m three year public sector Pfandbrief that is planned for tomorrow, according to a syndicate official at one of the leads. Commerzbank, NordLB and SEB have the mandate.

Syndicate officials said that supportive market conditions had carried over from last week, when seven deals comprising Eu7bn of benchmark supply were described as strong results with the exception of a Deutsche Pfandbriefbank (pbb) Eu500m five year on Friday that was priced in the middle of guidance and for which the size of the order book was not disclosed.

“The pbb deal went slowly, which is slightly concerning, but it looks as though the difficulties were specific to the issuer,” said a syndicate official. “The market is supportive and there’s no reason not to go now.

Another syndicate official said that this week is potentially the last good window for further issuance this year, but said it is not clear how many issuers are looking to come to the market.

“The week has clearly gotten off to a slow start,” he said, “and now it is just a question of how many issuers still have deals to do.”