Latest Covered Bonds news

• PKO set for debut euro covered bond

  

  The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has approved the covered bond prospectus of PKO Bank Hipoteczny and the issuer has mandated leads for a roadshow.

  • 28 Sep 2016

• Panama’s Global Bank tenders covered bond

  

  Panama’s Global Bank has announced a tender offer for its structured covered bond.

  • 11:00 AM

• Swiss Pfandbriefbank goes long to reach positive yields

  

  Pfandbriefbank Schweizerischer Hypothekarinstitute placed on Tuesday a dual tranche deal in Swiss francs. The shorter tranche was fashioned into a 12 year clip to entice investors looking for positive yield.

  • 11:45 AM

• PTSB’s first Irish RMBS since 2013 sees heavy demand

  

  Scarcity value helped Permanent TSB's first Irish RMBS deal since November 2013 price at tight levels on Wednesday, as Kensington Mortgage Company lines up its second Trinity Square deal.

  • 11:30 AM

• UBS seeks soft bullet consent

  

  UBS is seeking the agreement of investors to change the maturity structure of two hard bullet covered bonds to soft bullets with a 12 month extension.

  • 28 Sep 2016

• SNS to change to de Volksbank, sparking deal hopes

  

  SNS Bank will change its name to de Volksbank from January next year, leading to speculation that it could return to the covered bond market, though possibly not with the same programme.

  • 28 Sep 2016

• Stadshypotek charges across the Finnish line

  

  Stadshypotek attracted a robust following for its first covered bond backed by Finnish assets, and even though the final spread was much tighter than leads initially indicated, few investors fell out.

  • 27 Sep 2016

• Vakifbank covered bonds tighten after downgrade

  

  Vakifbank’s €500m five year covered bond has rallied after Moody’s cut its rating and those of five other Turkish covered bond issuers. The move implies that the rating downgrade has not delivered a fatal blow to prospective Turkish supply.

  • 27 Sep 2016

• Covered bond issuers to face fraught final furlong

  

  An average of about three covered bonds a week are expected between the start of the fourth quarter and the end of November, but with German holidays, blackout periods and elections, the two month funding window is thick with the risk of disruption.

  • 26 Sep 2016

• Regulators and EC clash on covered bond collateral

  

  The European Commission could ignore the advice of the European Supervisory Authorities and plough on with its plan to exempt covered bond swaps from collateral posting where the claim is subordinate to investors, bankers say.

  • 23 Sep 2016

• Voting patterns in The Cover’s 2016 awards

  

  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.

  • 23 Sep 2016

• Profit-taking pervades as NBC prices covered bond with no NIP

  

  National Bank of Canada issued a rare seven year euro covered bond on Thursday and although it offered virtually no concession, it was highly subscribed, despite secondary market profit-taking.

  • 22 Sep 2016

• Korea Housing and Cariparma to roadshow covered bonds

  

  Korea Housing Finance Corp and Cariparma Crédit Agricole have hired lead managers to arrange investor meetings, with a view to issuing covered bonds in dollars and euros, respectively.

  • 22 Sep 2016

• More Austrian Pfandbriefe could be on the way

  After a long supply hiatus a number of other Austrian issuers are likely to be considering a deal, following RLB Oberösterreich’s success on Tuesday. Last September, three Austrian issuers came to market in short succession.

  • 21 Sep 2016

• RLB Oberösterreich pays small premium for debut covered bond

  

  The Austrian bank issued its first benchmark covered bond on Tuesday. The deal was highly oversubscribed even though the final spread offered little concession.

  • 20 Sep 2016

• The Cover Awards 2016 — the winners

  

  GlobalCapital is delighted to announce the winners of The Cover Awards 2016 to mark the successes of those in the covered bond market over the last year. The awards were presented in Düsseldorf last week at the Euromoney/ECBC Covered Bond Congress. Congratulations to all the winners, commiserations to the runners-up and thanks to all who took part.

  • 16 Sep 2016

• Photos of The Cover’s 2016 awards

  

  Browse through the pictures taken during The Cover’s 10th annual award ceremony, which took place on the evening of Thursday September 15 at the Rheinterrace in Düsseldorf.

  • 20 Sep 2016

• Covered bond duel recourse in Düsseldorf

  

  Over 1100 covered bond bankers attended the Euromoney-ECBC event in Düsseldorf last week. ‎Flights from London, Munich, Paris, Istanbul, Singapore, and the US brought the covered bond fraternity together for this landmark event.

  • 20 Sep 2016

• Bank of Queensland plans currency swap in debut Australian conditional pass through

  

  The Bank of Queensland’s (BoQ) debut Australian conditional pass through (CPT) covered bond will mark a major step in the use of the structure, with cross-currency swaps used for the first time.

  • 19 Sep 2016

• NAB, CS win investors' approval for covered bond switch

  National Australia Bank and Credit Suisse have both received the approval of investors to change terms of their existing covered bonds.

  • 21 Sep 2016

• Berlin Hyp goes green for two asset classes

  

  Berlin Hyp opened books for a €500m seven year green transaction on Monday, as it looked to become the first bank to offer green bonds in two asset classes.

  • 19 Sep 2016

• Green covered bonds have a bright future

  The fledgling green covered bond market is likely to be a promising growth area, with efforts to standardise eligible mortgage loans expected to pave the way for lenders across Europe to issue deals, said panellists at Thursday’s Euromoney covered bond conference.

  • 16 Sep 2016

• Permanent TSB mandates for new Irish RMBS

  Permanent TSB has mandated leads for a new Irish RMBS transaction from its Fastnet shelf, backed by a €641m pool of prime residential mortgages.

  • 15 Sep 2016

• Covered bond issuers face up to growth of negative yielding deals

  Tightening spread levels are pushing all covered bond issuers towards negative yielding deals but some are more willing to resist the trend than others, attendees heard at the Euromoney/ECBC covered bond congress in Düsseldorf on Thursday.

  • 15 Sep 2016

• Europe's mortgage industry should escape worst Basel hit, say insiders

  

  Basel proposals on how to treat mortgages will hurt Europe’s banks less than feared, according to sources with knowledge of the Basel Committee’s discussions, and other industry insiders at the European Covered Bond Council’s plenary meeting in Düsseldorf this week.

  • 15 Sep 2016

• EBA's covered bond approach will leave room for innovation

  The European Banking Authority is expected to deliver a report to the European Commission before the end of this year recommending a principles-based directive on harmonising covered bonds, said panellists at the European Covered Bond Council’s plenary session on Wednesday.

  • 14 Sep 2016

• Covered bond illiquidity is not just the ECB’s fault, hear ECBC attendees

  

  Panellists at the ECBC plenary conference in Düsseldorf on Wednesday unanimously agreed that covered bond liquidity was poor, but some were keen to stress that it was not just the result of heavy central bank buying.

  • 14 Sep 2016

• Economist tells ECB to take the brakes off European property market

  

  The ECB needs to release the regulatory brake on European mortgage markets, said a leading real estate economist at the European Covered Bond Council plenary meeting in Düsseldorf on Wednesday.

  • 14 Sep 2016

• ANZ NZ exploits 'standard madness' to print super seven year

  

  ANZ New Zealand took advantage of a slight back-up in yields and a scarcity of seven year covered bonds to issue a well oversubscribed deal on Tuesday.

  • 13 Sep 2016

• Bank of Nova Scotia hits dollar covered bonds

  Bank of Nova Scotia returned to the covered bond market for the second time this month and the sixth time this year, opening books for its second dollar benchmark of 2016 and the fifth from a Canadian issuer.

  • 13 Sep 2016

Covered Bonds news archive