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Aareal Bank: Bonds Tightening On Positive Lateral From DePfa

FINANCIALS

Aareal Bank (ARLN GY) bonds seeing similar moves to DePfa’s cash curve today. Its senior unsecured curve is 20-40bp tighter on the positive lateral from DePfa. Aareal reported FY23 results on 29-Feb which haven’t materially altered the equity pricing but the two continue to trade very wide of European peers (see graphic for senior preferred curves).

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