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Latest Covered Bonds news

  • BMO ends Canadian euro drought

    Bank of Montreal (BMO) became the first Canadian name to issue a covered bond in euros since March with a €1.5bn trade on Thursday.

    • 19 Oct 2017
  • PKO targets zloty market after mBank prints big

    PKO Bank Hipoteczny has mandated for a Polish zloty-denominated covered bond deal, following on from mBank, which has issued Z1.5bn in the domestic market recently.

    • 20 Oct 2017
  • Eurobank unveils CPT in wake of NBG

    Eurobank Ergasias has mandated leads for a roadshow, marketing a near replica transaction of National Bank of Greece’s (NBG) three year conditional pass-through that was issued last week.

    • 19 Oct 2017
  • Helaba taps bond with ‘no hurdles’

    Helaba faced few difficulties on Thursday with a €250m tap of a ten year bond.

    • 19 Oct 2017
  • Commission signals future for new ESN asset class

    The European Commission has asked the European Banking Authority (EBA) to consider how European Secured Notes (ESNs) should be treated for regulatory purposes. The future of ESNs is expected to depend on their regulatory treatment, bankers said.

    • 18 Oct 2017
  • SP Mortgage Bank broadens net catching new covered bond investors

    SP Mortgage Bank’s second covered bond brought in many new investors enabling the transaction to price inside interpolated fair value. With more buyers chasing this name and more trading desks expected to quote it, SP’s curve has a fair chance of repricing tighter.

    • 17 Oct 2017
  • Investors chase KBC’s covered ‘with fervour’ despite large price revision

    KBC Bank took full advantage of limited Belgian covered bond supply this year to radically tighten pricing for its first deal of the year, only the second Pandbrieven of 2017.

    • 17 Oct 2017
  • MuHyp swipes €250m of super-cheap long Pfandbriefe as SP readies

    Muenchener Hypothekenbank (MuHyp) doubled the size of its 10 year Pfandbrief tap despite pricing it at extremely tight levels, as SP Mortgage Bank announced plans to proceed with its second ever benchmark. Unlike SP's debut last year, the new deal will probably be priced through mid-swaps.

    • 16 Oct 2017
  • Covered bond investors weigh Catalan, Greek and Portuguese risks

    Covered bond investors are stoical on the outlook for Catalonia and prospective asset tapering. But one was less enamoured with deals issued this week by National Bank of Greece and Caixa Económica Montepio Geral.

    • 13 Oct 2017
  • NBG covered bond shows sub-IG future

    National Bank of Greece showed this week that a covered bond does not need to have an investment grade rating to be a success. By implication the product has almost unlimited funding potential for a broad swathe of global issuers, particularly those from the emerging markets, writes Bill Thornhill.

    • 12 Oct 2017
  • KHFC hits covered bond road

    Korea Housing and Finance Corporation (KHFC) has mandated lead managers to arrange a roadshow for an Aa1 rated five year dollar covered bond.

    • 11 Oct 2017
  • NBG covered bond does not include put option

    The National Bank of Greece’s €750m three year conditional pass through (CPT) covered bond does not include an investor put option. Although the programme allows for put options it was not used in this week’s deal and is unlikely to be used in future deals, according to the head of covered bond structuring at UBS which arranged the transaction.

    • 12 Oct 2017

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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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Covered Bonds League Table Builder

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 10,856.90 55 6.31%
2 UniCredit 8,379.23 66 4.87%
3 BNP Paribas 7,918.03 38 4.61%
4 Commerzbank Group 7,805.13 49 4.54%
5 LBBW 7,738.70 45 4.50%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 96,135.23 376 7.34%
2 Citi 84,976.88 498 6.49%
3 Bank of America Merrill Lynch 83,537.64 328 6.38%
4 Goldman Sachs 80,248.79 441 6.13%
5 JPMorgan 76,164.92 364 5.82%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 73,003.66 384 11.02%
2 Bank of America Merrill Lynch 67,317.92 276 10.16%
3 Morgan Stanley 65,732.49 269 9.92%
4 JPMorgan 63,159.52 276 9.54%
5 Goldman Sachs 59,493.52 368 8.98%

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 6.82%
2 LBBW 5,487.17 19 6.75%
3 BNP Paribas 4,946.20 16 6.09%
4 Commerzbank Group 4,830.70 19 5.95%
5 Credit Agricole CIB 4,748.11 18 5.84%

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 9,144.21 24 13.25%
2 HSBC 8,738.18 35 12.66%
3 BNP Paribas 4,721.16 25 6.84%
4 Citi 4,398.19 35 6.37%
5 Credit Suisse 4,325.15 22 6.27%