Foreign covered bonds that target U.S. investors are increasingly coming to market. The latest deal from NordLB will access  U.S. investors via the 144A market but issuers have recently explored other options.

NordLB's US 144A benchmark issue will offer investors access to German covered bonds. According to a Standard & Poor's report the bond is the first 144A issue by a German issuer since the beginning of the crisis.

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