covred bonds news on GlobalCapital

Latest Covered Bonds news

  • Garanti preps for euro covereds after green success

    After selling a green mortgage-backed covered bond to the International Financial Corporation and the European Bank for Reconstruction and Development (EBRD), Garanti Bank expects to sell its first publicly syndicated euro benchmark.

    • 20 Jul 2017
  • CIBC returns to dollar covered bonds

    Canadian Imperial Bank of Commerce issued a $1.75bn five year dollar covered bond on Thursday, its first since 2015 and the third of the same size and tenor from a Canadian bank this year.

    • 20 Jul 2017
  • Covered bond purchases slacken as market awaits ECB and spread signals

    Market participants await this Thursday’s European Central Bank meeting for clues on a tapering of asset purchases, which has in fact already begun in covered bonds. But for now, spreads remain tight.

    • 19 Jul 2017
  • Covered bond awards 2017: Poll now open, shortlists and nominations

    The Cover and GlobalCapital’s covered bond awards are now open. The following lists show the number of shortlist nominations and those that were actually shortlisted.

    • 14 Jul 2017
  • Andbank issues inaugural Andorran covered bond

    Andorra Banc Agricol Reig SA (Andbank) successfully priced its first covered bond and the first ever from the principality of Andorra this week. The transaction’s small size and novel structure ensured a wide spread that enabled the borrower to increase the deal size.

    • 18 Jul 2017
  • DBRS expands to public sector covered bonds

    DBRS on Tuesday announced a methodology for rating transactions backed by public sector loans, a move that may help Portuguese issuers access cheaper repo funding.

    • 18 Jul 2017
  • Major covered bond banks push energy efficient mortgage initiative forward

    The Energy efficient mortgage Action Plan (EeMAP) launched its initiative on Monday, with a new website to promote the delivery of energy efficient mortgages — which could then collateralize green covered bonds or RMBS.

    • 17 Jul 2017
  • Nordic and UK issuers eye sterling covered bonds

    More borrowers will likely want to emulate the successes of last week’s sterling covered bonds issued by two Canadian banks. After rumours that a UK bank was looking to tap the market soon, Nordea Eiendomskreditt has updated its covered bond programme.

    • 17 Jul 2017
  • Liquidity glut fuels exceptional demand for sterling covereds

    A surfeit of sterling liquidity drove demand for covered bonds to new heights this week with exceptional deal executions seen in two Canadian bank transactions, raising the likelihood that a UK bank will soon follow.

    • 13 Jul 2017
  • Moroccan covered bond legislation finally on the way

    Seven years after first being mooted, draft Moroccan covered bond legislation is expected to emerge in the first half of next year, when it could be followed by supply. Fitch Ratings believes covered bonds will spur retail mortgage lending and will have a positive credit impact on banks.

    • 13 Jul 2017
  • mBank set to expand Polish covered bonds

    The Polish subsidiary of Commerzbank, mBank, has published the base prospectus for its €3bn covered bond programme, suggesting it could be ready to start a marketing drive leading to its first euro-denominated publicly syndicated deal.

    • 13 Jul 2017
  • BMO smashes through sterling covered bond records

    On Tuesday, Bank of Montreal (BMO) issued the largest sterling covered bond from an overseas bank in almost three years at the tightest spread of any sterling covered bond in over two years. The level BMO achieved was far cheaper than would have been possible in euros or dollars.

    • 11 Jul 2017
  • European Parliament ratifies way to covered harmony

    The European Parliament has approved a report that favours a principles-based approach to harmonising features of the European covered bond market.

    • 04 Jul 2017
  • Covered bonds make LCR portfolios ‘non-compliant'

    Some European bank liquidity portfolios are ‘materially non-compliant’ with the recommendations of the Basel Committee on Banking Supervision, because of the inclusion of covered bonds as high quality liquid assets, the BCBS said on Monday.

    • 03 Jul 2017
  • New issuers join covered bonds ranks

    The relentless growth in active covered bond issuers was in evidence last week as Danske Bank’s Swedish subsidiary received regulatory approval, Santander Consumer Finance AG tested its newly rated programme, and DZ Bank received a rating for its unique Bank Briefe.

    • 30 Jun 2017
  • Covered investors face supply drought but better opportunities at hand

    Investors are sitting on plenty of cash but have little opportunity to do anything with it in the covered bond market as supply prospects look set to worsen. But with Bund yields breaking up from a long held range on Thursday and the possibility of the European Central Bank scaling back covered bond purchases, there are likely to be better buying opportunities at hand.

    • 06 Jul 2017
  • Investors cut orders as covered inflection point feared

    Covered bond investors have begun to push back on aggressively priced deals, and with spreads close to the tightest in a decade there is a growing belief that they will widen.

    • 22 Jun 2017

Covered Bonds news archive

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Comment

  The GlobalCapital View logo

  • Green mortgages and special pleading

    It’s hard to attack green finance, because its aims are so noble. But when institutions use environmental aims to argue they deserve special subsidies, it tarnishes the whole market. Prudential regulation should stick to being prudential.

    • 18 Jul 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
  • 18 Jul 2017
1 HSBC 7,819.38 34 5.99%
2 Commerzbank Group 6,569.87 40 5.03%
3 UniCredit 6,402.82 51 4.90%
4 Credit Agricole CIB 6,251.64 29 4.79%
5 LBBW 6,101.10 27 4.67%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jul 2017
1 JPMorgan 150,125.79 696 6.45%
2 Morgan Stanley 148,945.43 628 6.40%
3 Goldman Sachs 141,512.99 757 6.08%
4 Citi 139,755.65 854 6.00%
5 Bank of America Merrill Lynch 130,842.74 595 5.62%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 46,002.89 257 9.90%
2 Goldman Sachs 45,907.69 242 9.88%
3 Morgan Stanley 45,559.38 178 9.81%
4 JPMorgan 44,542.40 200 9.59%
5 Bank of America Merrill Lynch 42,865.90 179 9.23%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 LBBW 5,014.64 17 7.40%
2 SG Corporate & Investment Banking 4,741.46 19 7.00%
3 Credit Agricole CIB 4,590.25 17 6.78%
4 BNP Paribas 4,566.36 14 6.74%
5 Commerzbank Group 4,066.97 16 6.00%

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
  • 18 Jul 2017
1 HSBC 7,627.65 26 6.98%
2 Barclays 5,339.12 17 4.88%
3 Credit Suisse 3,754.01 17 3.43%
4 BNP Paribas 3,630.97 18 3.32%
5 Citi 3,502.60 28 3.20%