Two new covered bonds from peripheral Eurozone issuers priced last week. The Italian Lender, Intesa San Paolo issued a €1.5 billion ($1.96 billion), 1.5-year unsecured bond at 295 basis points over mid swaps.

Meanwhile, Spanish issuer Banco Santander returned to the covered bond market with a €2 billion three-year mortgage covered bond at 210 basis points over mid swaps.

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