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Latest Covered Bonds news

  • ABN takes €750m of 20 year covered funding

    ABN Amro took advantage of the more positive mood that followed Dutch elections and its earnings results to tap its existing 20 year by €750m to make the transaction the largest outstanding deal in that maturity.

    • 17 Mar 2017
  • BNPP Fortis pounces for tight covered

    BNP Paribas Fortis issued Belgium’s first covered bond of the year on Thursday, taking advantage of the strong market conditions that followed Dutch elections to price a €500m seven year with a tiny new issue concession.

    • 16 Mar 2017
  • WL Bank issues longest Pfandbrief of the year

    WL Bank took advantage of strong funding conditions — and a reverse enquiry — to issue a tightly priced 20 year public sector backed Pfandbrief on Thursday, the longest covered bond from Germany this year. The transaction follows the announcement of plans to merge the cover pools of WL Bank and DG Hyp.

    • 16 Mar 2017
  • Covered squeeze continues but core profit-taking seen

    Covered bonds are well supported but markets have seen profit-taking on an asset swap basis reflecting the view that spreads are expected to go wider in coming months, traders told GlobalCapital on Wednesday.

    • 15 Mar 2017
  • OCBC lands strong covered debut in hot fives

    Oversea-Chinese Banking Corporation (OCBC) stepped into the euro covered bond market for the first time with a well received €500m deal that capitalised on strong technical demand in the five year part of the curve.

    • 14 Mar 2017
  • Cariparma blows open doors to OBG mart

    Crédit Agricole Cariparma priced the first Obbligazioni Bancarie Garantite of the year on Tuesday, with the two part long-dated transaction attracting demand of almost €3bn and printing at a record spread through BTPs.

    • 14 Mar 2017
  • Seifert takes over from Steeg at LBBW

    Patrick Seifert will become head of primary markets at Landesbank Baden-Württemberg, taking over from Patrick Steeg who will move to the firm’s asset and liability management business.

    • 13 Mar 2017
  • Singapore and Canada could raise covered bond issuance limits

    Strict asset encumbrance limits imposed by regulators in Canada and Singapore could be increased, in a move that could improve covered bond supply from the two regions.

    • 10 Mar 2017
  • Volksbank Wien may consider publicly syndicated covered bond

    Volksbank Wien could be preparing to launch its first publicly syndicated euro covered bond after Moody’s published a presale report and assigned a top rating to its covered bond programme on Thursday.

    • 10 Mar 2017
  • Danish ship lender mulls euro covered

    Ship financing has been through a torrid time as falling prices have tested and broken the business models of the main German lenders — and so the ship-backed Pfandbrief market has virtually run aground. But Danmarks Skibskredit, an established Danish shipping lender with a strong track record, is mulling a euro-denominated shipping covered bond, and trying to change investors' views of the product, delegates heard at the LBBW covered bond forum on Thursday.

    • 09 Mar 2017
  • ECB exacerbates covered bond squeeze, but spreads will widen

    The European Central Bank has stepped up secondary covered bond purchases to compensate for slower primary activity and has exacerbated a technical squeeze. But with the central bank expected to announce a tapering of asset purchases after summer the squeeze could reverse, and spreads could end the year much wider.

    • 08 Mar 2017
  • Hypo Noe and PKO Hyp hit the covered road

    Austria’s Hypo Noe and Poland’s PKO Hipoteczny have mandated leads for roadshows that begin in mid-March and which are likely to be followed by deals.

    • 07 Mar 2017
  • How to win at covered bond trading

    Despite the ECB’s backstop bid, covered bond trading is a tough business. Tight spreads may help investors score mark-to-market gains, but discourage them selling since replacement assets are scarce. But the market is evolving, e-trading is on the march and traditional dealer rankings are changing too.

    • 02 Mar 2017
  • ECBC engages with frontier Asian regions

    The European Covered Bond Council (ECBC) said it will begin meetings with national authorities and stakeholders in India and Malaysia to consider whether covered bonds could play a role in their economies.

    • 03 Mar 2017
  • Capital Intelligence Ratings joins covered bond club

    Capital Intelligence Ratings (CI), which has a 35-year track record of rating banks in emerging markets, has joined forces with the European Covered Bond Council (ECBC) in a move that suggests the asset class is set to spread to new frontier regions.

    • 01 Mar 2017
  • Lift-off for TSB’s covered bond programme

    TSB Bank has received regulatory approval and a rating for a £5bn residential mortgage-backed covered bond programme, the first new programme from a UK issuer since 2011.

    • 27 Feb 2017
  • UOB issues first covered in dual-currency

    United Overseas Bank this week became the first issuer to price covered bonds simultaneously in euros and dollars, helping it to attract new, especially Asian, investors.

    • 23 Feb 2017
  • Santander takes the helm in covered bond trading

    GlobalCapital interviews covered bond traders, Jonas Klink and Jordi Cabero, to try and find out how after only three years, Santander has become a dominant force on the Street.

    • 23 Feb 2017

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  • Green mortgages can grow without regulatory help

    Proponents of “green mortgage loans”, lent against energy efficient homes, argue they are less likely to default and deserve a lower risk weighting than conventional mortgage lending. But it’s a long shot, and there are plenty of other ways to promote the market.

    • 21 Feb 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

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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
  • 21 Mar 2017
1 Commerzbank Group 3,864.49 23 6.68%
2 HSBC 3,662.21 15 6.33%
3 SG Corporate & Investment Banking 3,300.60 13 5.70%
4 LBBW 3,189.28 14 5.51%
5 Credit Agricole CIB 3,100.02 15 5.36%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Mar 2017
1 Morgan Stanley 29,052.08 101 7.24%
2 Goldman Sachs 27,997.52 114 6.98%
3 Bank of America Merrill Lynch 26,257.54 82 6.54%
4 JPMorgan 23,062.78 103 5.75%
5 Citi 20,877.50 122 5.20%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 Goldman Sachs 22,807.51 94
2 Morgan Stanley 21,009.07 69
3 JPMorgan 19,370.83 76
4 Bank of America Merrill Lynch 19,244.14 67
5 Citi 18,801.67 99

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 SG Corporate & Investment Banking 3,168.16 12 9.93%
2 LBBW 2,629.03 9 8.24%
3 Commerzbank Group 2,493.64 9 7.82%
4 Credit Agricole CIB 2,163.80 9 6.78%
5 HSBC 1,941.46 7 6.09%

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
  • 07 Mar 2017
1 Credit Suisse 2,433.39 7 13.20%
2 Barclays 1,997.28 4 10.83%
3 Bank of America Merrill Lynch 1,499.19 8 8.13%
4 JPMorgan 1,236.52 7 6.71%
5 HSBC 1,216.99 8 6.60%