Valiant successfully placed a mortgage-backed bond for the eleventh time altogether and for the fourth time this year. The bond has a duration of one year and a coupon of 0%.
The eleventh series was placed privately with institutional investors. Client deposits and Pfandbrief note loans form the third pillar of Valiant’s loan-funding operations. In this way, Valiant is able to additionally reduce its funding costs.
Valiant is planning to continue issuing covered bonds on a regular basis.