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Hypo Tyrol Bank, which until now has only ever issued bonds in sub-benchmark size, mandated leads on Wednesday for its first benchmark sized euro covered bond trade, to be launched in the near future.
Commerzbank, DekaBank, DZ Bank, Erste Group, LBBW and Raiffeisen Bank International were appointed for the €500m seven year mortgage covered bond, to be rated Aa1.
The issuer has so far only ever issued in sub-benchmark size and was last seen in the market in May 2017 when it issued a €250m May 2024 which was subsequently tapped...