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Latest Covered Bonds news

  • BCP returns to hot covered bond market with €1bn deal

    Banco Comercial Portugues returned to the covered bond market after an eight year absence on Tuesday, selling a €1bn five year deal.

    • 02:30 PM
  • Moody’s joins DBRS with most lenient covered bond ratings

    Moody’s ratings for covered bonds are now almost as lenient as newcomer DBRS, DZ Bank covered bond research analysts have revealed. The change should help protect its share of the market which may be shrinking due to the prevalence of single covered bond ratings.

    • 10:00 AM
  • Chytil returns to Slovakia

    Matej Chytil has left Crédit Agricole’s covered bond trading team to return to National Bank of Slovakia where he used to work.

    • 08:00 AM
  • Rabo reels in covered investors

    The robust demand that Rabobank reeled in for its two part debut covered bond issued on Monday provided the basis for an aggressive spread tightening, especially in the longer-dated tranche.

    • 22 May 2017
  • Sparebanken Sør prices flat to covered curve

    Sparebanken Sør Boligkreditt issued its second ever covered bond and, similar to deals issued last week, was able to price flat to its curve. But its bonds are not eligible for the ECB's purchase programme, unlike some of last week's tightest issues, which could limit performance potential.

    • 22 May 2017
  • A valid case for covered bond harmonisation

    The benefits of covered bond harmonisation far outweigh the costs, according to an independent report undertaken on behalf of the European Commission and published on Friday.

    • 19 May 2017
  • Sparebanken Sør Boligkreditt set to issue

    Sparebanken Sør Boligkreditt finishes its roadshow on Friday and is expected to issue a €500m deal early next week said leads. Banco Comercial Portugues and Rabobank also finish their roadshows on Friday and could well be expected to emerge next week.

    • 19 May 2017
  • Bank of Queensland CPT shows market evolution

    The Bank of Queensland’s (BoQ) conditional pass through (CPT) covered bond works differently from Dutch CPTs as there is a higher likelihood of prepayment.

    • 17 May 2017
  • Green ESNs can leapfrog green covered bonds

    Green covered bonds have been slow to take off, but the greater flexibility offered by European Secured Notes (ESNs) should have broader appeal for borrowers and investors alike.

    • 16 May 2017
  • Capital trades lead FIG supply boom

    Bank treasury departments have spied a golden opportunity to make headway on the riskiest parts of their funding strategies this week, but bankers are keeping their eyes peeled for sign that the mountain of supply is pushing bond spreads wider in secondary.

    • 17 May 2017
  • Sparkasse Hamburg prices through Pfandbrief curve

    Sparkasse Hamburg extended its curve and priced a Pfandbrief inside fair value with good demand this week. At the same time Hypo Tirol paid a relatively small concession for its sub-benchmark Pfandbrief, suggesting any lingering concern over Austrian covered bonds following the Heta saga has been put to rest.

    • 16 May 2017
  • Berlin Hyp set for Green covered return

    After adding more green loans to its cover pool, Berlin Hyp (BHH) is now ready to return to the Pfandbrief market and on Tuesday mandated leads for a roadshow ahead of its second green mortgage-backed deal.

    • 16 May 2017
  • Barclays attracts record demand for sterling covered bond

    Barclays has priced the tightest sterling covered bond since January 2015 and attracted more demand than for any sterling covered bond ever issued.

    • 15 May 2017
  • More Norwegian debut covered bond

    The list of Norwegian covered bond issuers entering the euro market continues to grow with Møre Boligkreditt (Morebo) mandating joint leads to roadshow its deal in the single currency.

    • 15 May 2017
  • Kommunalkredit announces tender result

    Kommunalkredit Austria AG said on Monday that it had accepted all validly tendered bonds following its offer published May 4.

    • 15 May 2017
  • RBS returns to covereds as banks shape up for life without CB safety nets

    Royal Bank of Scotland this week gave capital markets the clearest view yet of how banks are set to re-engage with the covered bond market as a staple source of financing, as the sector comes under pressure to wean itself off the special fundings schemes set up by the Bank of England and the European Central Bank.

    • 11 May 2017
  • Westpac enjoys ‘astonishing’ covered result

    Westpac enjoyed a strong covered comeback for a two part euro offering on Thursday and, despite concerns about the performance outlook for non-eurozone bonds, the transactions were priced with barely any concession.

    • 11 May 2017
  • Bank of Queensland debut covered bond nears

    The Bank of Queensland (BOQ) has published an offering circular for its newly established covered bond programme rated triple-A with Fitch and Moody’s, suggesting a roadshow could soon be announced for the first Australian conditional pass-through covered bond.

    • 11 May 2017

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  • Green ESNs can leapfrog green covered bonds

    Green covered bonds have been slow to take off, but the greater flexibility offered by European Secured Notes (ESNs) should have broader appeal for borrowers and investors alike.

    • 16 May 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
  • 16 May 2017
1 HSBC 5,680.75 25 5.91%
2 Commerzbank Group 5,001.67 29 5.20%
3 UniCredit 4,986.06 37 5.19%
4 Credit Agricole CIB 4,573.35 20 4.76%
5 BNP Paribas 4,463.32 18 4.64%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Morgan Stanley 139,173.11 554 6.60%
2 JPMorgan 135,505.56 612 6.43%
3 Citi 127,910.15 757 6.07%
4 Goldman Sachs 125,520.43 675 5.95%
5 Bank of America Merrill Lynch 119,876.60 536 5.69%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Apr 2017
1 JPMorgan 104,210.95 417 10.23%
2 Citi 99,111.89 557 9.73%
3 Bank of America Merrill Lynch 94,929.57 429 9.32%
4 Morgan Stanley 89,025.14 390 8.74%
5 Goldman Sachs 85,770.72 496 8.42%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 SG Corporate & Investment Banking 3,864.50 15 8.19%
2 LBBW 3,506.91 13 7.43%
3 Credit Agricole CIB 3,308.89 13 7.01%
4 BNP Paribas 2,845.56 10 6.03%
5 Commerzbank Group 2,832.12 11 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
  • Today
1 HSBC 5,378.40 21 6.13%
2 Barclays 4,839.18 14 5.52%
3 Credit Suisse 3,558.82 15 4.06%
4 BNP Paribas 3,205.75 15 3.65%
5 Goldman Sachs 2,788.75 18 3.18%