covred bonds news on GlobalCapital

Latest Covered Bonds news

  • Mediobanca takes size, duration and pays no NIP, in covered bonds

    Mediobanca took advantage of robust market conditions, the limited funding window left this year, and the growing possibility of peripheral rates volatility next year to raise a €750m 12 year covered bond at a considerably lower level than BTPs.

    • 17 Nov 2017
  • Deutsche Hypo issues first green Pfandbrief

    Deutsche Hypo issued its first green Pfandbrief flat to where it would have issued a vanilla deal, and though it was unable to tighten the spread from refined guidance, leads built the book in record time.

    • 16 Nov 2017
  • Achmea matches Aegon with CPT sevens

    Achmea Bank has issued its first conditional pass through covered bond, pricing in exactly the same steps with the same final result as Aegon had earlier this week.

    • 16 Nov 2017
  • OP issues tightest Nordic covered bond in rare fives

    OP Mortgage Bank was set to price the first €1bn sized covered bond of the week on Wednesday and, despite offering hardly any new issue premium, the transaction found strong demand reflecting a popular but exceptionally rare tenor. At the same time, Switzerland's Valliant Bank issued its debut covered bond and Sparkasse Hannover issued a sub-benchmark Pfandbrief.

    • 15 Nov 2017
  • Danske prices first covered in line with SEB

    Danske Bank extended its covered bond maturity curve by more than five years on Tuesday, breaking with tradition to price in line with where SEB recently issued.

    • 14 Nov 2017
  • DBS issues first Singapore covered below mid-swaps

    DBS Bank became the first covered bond issuer from Singapore to price a deal through mid-swaps on Tuesday.

    • 14 Nov 2017
  • Aegon covered CPT breaks Euribor barrier

    Aegon Bank smashed through the mid-swaps flat barrier to price its first conditional pass through (CPT) covered bond substantially below the reference rate on Tuesday. The deal’s success implied that investors saw through the weakness of the structure to the strong credit, or that they have lost their capacity to price extension risk.

    • 14 Nov 2017
  • Santander to market first Pfandbrief

    Santander Consumer Bank is set to issue its first Pfandbrief and has mandated lead managers for a roadshow that is expected to commence in a week’s time. Sparkasse Hannover, meanwhile, sold a sub-benchmark deal on Wednesday.

    • 14 Nov 2017
  • RLB OÖ to be ‘more active’ after senior debut

    Austrian lender Raiffeisenlandesbank Oberösterreich (RLB OÖ) issued its first unsecured deal on Tuesday — and plans to bring one or two more benchmark transactions in covered or senior next year.

    • 14 Nov 2017
  • DBS to issue tightest Singaporean covered bond

    DBS Bank has mandated leads for a euro benchmark, capitalising on very tight spreads, the strong performance of its previous debut and a number of exceptionally well received seven year euro deals that have priced flat to mid-swaps.

    • 13 Nov 2017
  • Covered bond volumes to hit €150bn in 2018

    Global covered bond primary volume across all currencies is set to rise by €25bn from 2017 to €150bn equivalent in 2018 according to analysts at Crédit Agricole research. Issuance will be boosted by new borrowers and refinancing of liquidity borrowed under the term long term refinancing operation (TLTRO).

    • 10 Nov 2017
  • DNB shows covered sentiment is now turning

    DNB Boligkreditt enjoyed great execution for its €1.5bn seven year covered bond on Thursday, but real money accounts switched out of more expensive deals in good size for the first time in months, suggesting investors have far less inclination to add to positions at prevailing spread levels than was previously the case.

    • 09 Nov 2017
  • Covered bond investors see value

    Covered bond investors remain unperturbed by spreads to swaps that are at near-historically tight levels, as the relative values to government bonds and senior unsecured remains alluring.

    • 08 Nov 2017
  • Baltic trio sew up secured funding scheme

    Estonia, Latvia and Lithuania have signed a memorandum of understanding (MoU) to develop their capital markets and will look to draw up legal frameworks to develop covered bond and securitization markets.

    • 07 Nov 2017
  • Slovak covered law update is work in progress

    The Slovakian government has approved an updated version of its covered bond law but while this is likely to improve on the existing framework further work may be needed.

    • 31 Oct 2017

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Comment

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  • NBG’s covered bond success does little to diminish Greek grief

    National Bank of Greece’s ability to attract a high oversubscription for its three year covered bond on Tuesday showed it is on the road to recovery. But without sovereign debt relief, the precarious state of Greece’s government finances will continue to blight the economy and its fragile banks.

    • 10 Oct 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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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,393.91 58 6.10%
2 UniCredit 9,392.63 73 5.03%
3 BNP Paribas 8,680.07 42 4.65%
4 Commerzbank Group 8,017.52 51 4.29%
5 LBBW 7,853.79 46 4.21%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 101,227.56 407 7.05%
2 Citi 93,364.44 533 6.50%
3 Goldman Sachs 92,877.06 482 6.47%
4 Bank of America Merrill Lynch 88,108.47 363 6.14%
5 JPMorgan 83,098.88 394 5.79%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Nov 2017
1 Citi 80,666.11 411 11.00%
2 Goldman Sachs 71,709.95 406 9.78%
3 Bank of America Merrill Lynch 71,286.77 308 9.72%
4 Morgan Stanley 70,689.24 298 9.64%
5 JPMorgan 69,672.34 305 9.50%

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 5,543.24 22 6.41%
2 LBBW 5,487.17 19 6.34%
3 BNP Paribas 5,467.55 18 6.32%
4 Credit Agricole CIB 5,313.69 20 6.14%
5 Commerzbank Group 4,830.70 19 5.59%

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 9,461.63 27 13.12%
2 HSBC 8,882.01 36 12.32%
3 BNP Paribas 5,367.46 26 7.44%
4 Citi 4,542.03 36 6.30%
5 Credit Suisse 4,325.15 22 6.00%