covred bonds news on GlobalCapital

Latest Covered Bonds news

  • Totta 10s paves way for NBG covered deal

    National Bank of Greece (NBG) is poised to issue the first post-crisis Greek covered bond, having drawn confidence from the blowout reception Santander Totta won for its €1bn 10 year this week — the longest Portuguese deal since 2010. Bill Thornhill reports.

    • 21 Sep 2017
  • Barclays set to ‘crack open’ UK green bond market

    Energy efficiency data released by the UK government has allowed Barclays to launch a green bond framework based on financing environmentally friendly homes.

    • 21 Sep 2017
  • Who cares about tapering? Investors don't seem to

    If the market commentariat thinks that the buy-side should be worried by upcoming European Central Bank tapering, then someone has yet to tell investors.

    • 19 Sep 2017
  • Nationale-Nederlanden set to market debut covered

    Nationale-Nederlanden (NN Bank) has mandated leads to market its first covered bond, which will have an intermediate conditional pass-through maturity.

    • 21 Sep 2017
  • ASB mandates for covered bond roadshow

    Commonwealth Bank of Australia subsidiary, ASB Finance, has mandated leads for a roadshow to market its first covered bond of the year and the third from a New Zealand issuer.

    • 21 Sep 2017
  • Covered duo enjoy sub-benchmark success

    Vseobecna uverova banka and Stadtsparkasse München have both been keeping the sub-benchmark covered bond market busy with deals this week.

    • 21 Sep 2017
  • PKO extends its covered bond curve

    PKO Bank Hipoteczny extended its covered bond curve this week with a deal that was more widely distributed and attracted more demand than any of its previous deals.

    • 20 Sep 2017
  • Totta enjoys blow-out covered bond reception

    Santander Totta took advantage of the paucity of peripheral 10 year covered bond supply, a Portuguese sovereign rating upgrade and buoyant credit conditions to issue a well received €1bn transaction on Tuesday. Meanwhile, PKO Bank signalled its intention to open books soon.

    • 19 Sep 2017
  • Caffil hits the market with big week expected in covereds

    Caffil set final terms of 2bp through mid-swaps for its no-grow €750m trade, the first deal in a window for issuance between the ECBC/Euromoney congress and Sunday’s German election.

    • 18 Sep 2017
  • Voting patterns for covered bond awards 2017

    The various constituencies of the covered bond market voted quite differently this year and in some cases the final winning margins were close. See how the market voted for this year’s awards.

    • 19 Sep 2017
  • GlobalCapital Covered Bond Awards 2017: the winners

    The Cover and GlobalCapital held the annual Covered Bond Awards Dinner on Thursday night at Casa Llotja de Mar in Barcelona, celebrating the best performers in the market.

    • 15 Sep 2017
  • NBG among banks plotting Greek covered bond return

    National Bank of Greece (NBG) and another Greek issuer have confirmed they are looking at issuing the first Greek covered bonds since the sovereign debt crisis, reports Bill Thornhill.

    • 10 Aug 2017
  • Covered bond issuers unperturbed by ECB’s imminent withdrawal

    Even though central banks continue to regularly buy up to 40% of covered bonds, borrowers are remarkably stoic about spread prospects even after the European Central Bank’s purchase programme (CBPP3) has ended, delegates at the ECBC/Euromoney covered bond congress heard on Thursday.

    • 14 Sep 2017
  • EU harmonisation outlook leaves covered bond market sanguine

    Risks including regulation, monetary tightening and the rise of the senior preferred asset class are touted as threats to the covered bond market. But participants on the opening panel of the Euromoney/ECBC Covered Bond Congress remained relatively unfazed.

    • 14 Sep 2017
  • Cédulas faces biggest obstacles to covered bond harmonisation

    The Spanish covered bond legal framework is so vastly different from the rest of the world’s that it is likely to face the most severe challenges in trying to implement a harmonised European covered bond directive, delegates at the European Covered Bond Council’s plenary session heard on Wednesday.

    • 14 Sep 2017
  • Europe leads the global covered bond march

    ECBC speakers lauded the global popularity of ‘very trendy’ covered bonds, while general secretary Luca Bertalot evoked Christopher Columbus as a model for the European market.

    • 13 Sep 2017
  • Energy-efficient mortgage data collection gets going

    Mortgage industry bodies are pressing ahead with a pilot scheme to collect data on mortgages on energy-efficient homes, which could eventually help promote issuance of green covered bonds and mortgage-backed securities.

    • 13 Sep 2017
  • 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.

    • 13 Sep 2017
  • New ECB repo rules increase covered bond extension risk

    The European Central Bank’s decision to curtail wind down entities' access to repo liquidity materially increases the risk of a covered bond maturity extension or default, and is not consistent with its mission as lender of last resort or its previously benign approach to the asset class.

    • 01 Aug 2017
  • Opaque covered bond issuers may lose ECB repo eligibility soon

    Many covered bond programmes are still falling short of new European Central Bank disclosure requirements. Unless issuers improve the timeliness and content of their disclosures, affected covered bonds could soon become ineligible for ECB repo, which would widen spreads.

    • 12 Sep 2017
  • Constructive covered bond mood to persist but vigilance still needed

    Rates markets have barely reacted in the aftermath of Thursday’s European Central Bank meeting, and covered bond issuance conditions are likely to remain constructive. Despite this, vigilance is required as the positive situation can easily lead to complacency.

    • 08 Sep 2017
  • Senior preferred could have ‘edge’ on covered bonds, says ECBC

    Writing in its European Covered Bond Fact Book for 2017, the European Covered Bond Council said that when banks turn their attention to funding for liquidity purposes they could favour senior preferred debt over covered bonds.

    • 25 Aug 2017
  • Why preferred senior bonds could start earning their name

    Senior preferred debt has never been cheaper for banks — and it has regulatory benefits as well. While funding teams rush to meet bail-in targets, there's a value in keeping the old asset class alive.

    • 05 Sep 2017

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Capital markets data from GlobalCapital

Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and FIG priced deals database.

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Covered Bonds League Table Builder

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 9,196.65 41 6.02%
2 UniCredit 7,570.25 62 4.96%
3 Commerzbank Group 6,961.50 44 4.56%
4 BNP Paribas 6,833.59 30 4.48%
5 LBBW 6,799.87 38 4.45%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 86,402.71 348 7.34%
2 Bank of America Merrill Lynch 76,648.22 289 6.51%
3 Goldman Sachs 74,333.73 393 6.31%
4 Citi 74,212.55 449 6.30%
5 JPMorgan 69,612.35 336 5.91%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 63,244.76 346 10.45%
2 Bank of America Merrill Lynch 62,666.77 244 10.35%
3 Morgan Stanley 62,567.41 249 10.34%
4 JPMorgan 57,709.83 258 9.53%
5 Goldman Sachs 54,069.13 322 8.93%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 5,349.05 21 7.30%
2 LBBW 5,191.72 18 7.08%
3 BNP Paribas 4,566.36 14 6.23%
4 Credit Agricole CIB 4,553.92 17 6.21%
5 Commerzbank Group 4,242.73 17 5.79%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 8,682.34 22 13.77%
2 HSBC 8,067.77 29 12.79%
3 BNP Paribas 4,343.93 23 6.89%
4 Credit Suisse 4,219.22 21 6.69%
5 Citi 3,992.43 32 6.33%