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Latest Covered Bonds news

  • Big TLTRO take-up will hurt covered supply

    A higher-than-expected take-up of the ECB’s final round of Targeted Longer-Term Refinancing Operations (TLTRO II) could hurt supply in covered bonds, with some analysts downgrading their expectations following Thursday’s announcement of the results.

    • 24 Mar 2017
  • Toronto-Dominion Bank sees strong demand for seven year

    A new seven year euro deal from Toronto-Dominion Bank drew in a healthy book on Thursday, as investors continue to show strong demand for Canadian names.

    • 23 Mar 2017
  • PKO Bank closes first Polish euro covered benchmark of the year

    PKO Bank Hipoteczny launched the first Polish euro benchmark covered bond of the year on Thursday, with pricing grinding slowly tighter after a steady bookbuilding process.

    • 23 Mar 2017
  • DNB pulls in pricing on dollar five year covered bond

    DNB Boligkreditt’s venture into the dollar market was successful on Tuesday, with the bank drawing almost $3bn of demand for the deal, allowing it to pull in pricing below guidance.

    • 22 Mar 2017
  • Diverse covered pipeline builds with Polish, Swedish and UK issuers joining

    Yorkshire Building Society mandated banks for its first covered bond since November 2015 on Wednesday, joining a host of other issuers, as a diverse pipeline of deals builds up.

    • 22 Mar 2017
  • Euro covered bond issuers enjoy strong conditions

    Three covered bond issuers took advantage of the post-Dutch election window on Tuesday to issue covered bonds in euros and dollars, with some aggressive price tightening seen in the euro market.

    • 21 Mar 2017
  • Hypo Noe to switch to soft bullet covered bond structure for new deal

    Hypo Noe is embarking on the second week of its new deal roadshow this week, as the bank looks to roll out a new soft bullet structure for its covered bonds.

    • 20 Mar 2017
  • Antipodean covered bond issuers line up

    A pair of issuers from Australia and New Zealand have announced they will take new euro deals on roadshows at the end of the month.

    • 20 Mar 2017
  • ABN takes €750m of 20 year covered funding

    ABN Amro took advantage of the more positive mood that followed Dutch elections and its earnings results to tap its existing 20 year by €750m to make the transaction the largest outstanding deal in that maturity.

    • 17 Mar 2017
  • BNPP Fortis pounces for tight covered

    BNP Paribas Fortis issued Belgium’s first covered bond of the year on Thursday, taking advantage of the strong market conditions that followed Dutch elections to price a €500m seven year with a tiny new issue concession.

    • 16 Mar 2017
  • WL Bank issues longest Pfandbrief of the year

    WL Bank took advantage of strong funding conditions — and a reverse enquiry — to issue a tightly priced 20 year public sector backed Pfandbrief on Thursday, the longest covered bond from Germany this year. The transaction follows the announcement of plans to merge the cover pools of WL Bank and DG Hyp.

    • 16 Mar 2017
  • Covered squeeze continues but core profit-taking seen

    Covered bonds are well supported but markets have seen profit-taking on an asset swap basis reflecting the view that spreads are expected to go wider in coming months, traders told GlobalCapital on Wednesday.

    • 15 Mar 2017
  • OCBC lands strong covered debut in hot fives

    Oversea-Chinese Banking Corporation (OCBC) stepped into the euro covered bond market for the first time with a well received €500m deal that capitalised on strong technical demand in the five year part of the curve.

    • 14 Mar 2017
  • Cariparma blows open doors to OBG mart

    Crédit Agricole Cariparma priced the first Obbligazioni Bancarie Garantite of the year on Tuesday, with the two part long-dated transaction attracting demand of almost €3bn and printing at a record spread through BTPs.

    • 14 Mar 2017
  • Seifert takes over from Steeg at LBBW

    Patrick Seifert will become head of primary markets at Landesbank Baden-Württemberg, taking over from Patrick Steeg who will move to the firm’s asset and liability management business.

    • 13 Mar 2017
  • Singapore and Canada could raise covered bond issuance limits

    Strict asset encumbrance limits imposed by regulators in Canada and Singapore could be increased, in a move that could improve covered bond supply from the two regions.

    • 10 Mar 2017
  • Volksbank Wien may consider publicly syndicated covered bond

    Volksbank Wien could be preparing to launch its first publicly syndicated euro covered bond after Moody’s published a presale report and assigned a top rating to its covered bond programme on Thursday.

    • 10 Mar 2017
  • Danish ship lender mulls euro covered

    Ship financing has been through a torrid time as falling prices have tested and broken the business models of the main German lenders — and so the ship-backed Pfandbrief market has virtually run aground. But Danmarks Skibskredit, an established Danish shipping lender with a strong track record, is mulling a euro-denominated shipping covered bond, and trying to change investors' views of the product, delegates heard at the LBBW covered bond forum on Thursday.

    • 09 Mar 2017

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Comment

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  • Green mortgages can grow without regulatory help

    Proponents of “green mortgage loans”, lent against energy efficient homes, argue they are less likely to default and deserve a lower risk weighting than conventional mortgage lending. But it’s a long shot, and there are plenty of other ways to promote the market.

    • 21 Feb 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.

This now includes all the data from TheCover

Covered Bonds Priced Deals database

Covered Bonds pipeline 

Covered Bonds League Table Builder

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 4,036.16 16 6.04%
2 Commerzbank Group 4,025.24 24 6.02%
3 SG Corporate & Investment Banking 3,839.27 16 5.74%
4 LBBW 3,832.35 17 5.73%
5 UniCredit 3,441.32 25 5.15%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Goldman Sachs 34,651.03 126 7.97%
2 Morgan Stanley 29,177.75 109 6.71%
3 Bank of America Merrill Lynch 27,006.26 91 6.21%
4 JPMorgan 25,239.23 117 5.80%
5 HSBC 22,669.48 102 5.21%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 Goldman Sachs 22,807.51 94
2 Morgan Stanley 21,009.07 69
3 JPMorgan 19,370.83 76
4 Bank of America Merrill Lynch 19,244.14 67
5 Citi 18,801.67 99

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 3,598.86 14 4.70%
2 LBBW 3,164.12 11 4.13%
3 Commerzbank Group 2,654.38 10 3.46%
4 BNP Paribas 2,465.63 8 3.22%
5 Credit Agricole CIB 2,428.94 10 3.17%

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 Credit Suisse 2,871.94 10 10.56%
2 BNP Paribas 2,621.82 10 9.64%
3 Barclays 2,342.82 7 8.62%
4 HSBC 2,079.93 15 7.65%
5 Bank of America Merrill Lynch 1,926.69 12 7.09%