In brief: UniCredit Bank AG (HVB) today (Friday) put down a marker for what is expected to be a very busy week for euro benchmarks next week, announcing the mandate for a 11 year euro benchmark Hypothekenpfandbrief.

BayernLB, DZ, ING, SG and UniCredit are leads for the planned issue, which was announced after a public holiday in Bavaria and many parts of Europe yesterday (Thursday) that bookended two opening days of euro activity after New Year holidays.

HVB’s last new benchmark outing was a €500m five year debut green Pfandbrief in September.

According to pre-announcement comparables circulated by the leads this morning, HVB March 2031s were quoted at minus 2bp, mid, its January 2032s at minus 1.5bp, May 2034s at mid-swaps flat. A €1bn 10 year Commerzbank mortgage Pfandbrief re-offered at minus 1bp on Wednesday was seen at minus 2.5bp.