Extendable covered bonds: more popular, but handle with care
Extendable maturity covered bonds are looked on more favourably by issuers and rating agencies than they used to be. But some think issuers should have limited power to extend maturities at their discretion.
The topic has become “front, right and centre” of regulatory debate, according to Morten Bӕkmand Nielsen of Nykredit, who is chairman of the European Covered Bond Council's Technical Issues Working Group. He was speaking in a panel discussion at the 26th ECBC Plenary Meeting.
Banks have been experimenting
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