Covered Bonds
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Sheila Bair, FDIC chairman, takes questions, beginning with Bert Ely of Ely & Company.
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Royal Bank of Canada (RBC) has opened the books on its inaugural, five year covered bond this morning with price guidance that appears to be gaining traction among investors.
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Tim Skeet, head of covered bond origination at Merrill Lynch and conference chair, introduces Sheila Bair, chairman of the FDIC, who makes her opening remarks.
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Eurohypo Luxembourg priced its $500m three year lettres de gage publiques issue this (Friday) morning having bookbuilt the issue against an unfavourable Treasury market backdrop.
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The Royal Bank of Canada (RBC) is set to launch its inaugural benchmark covered bond next Monday and all eyes will be on just where the first Canadian transaction is positioned relative to outstanding sectors, especially the UK.
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Achmea Hypotheekbank is expected to launch a covered bond announced today (Thursday) early next week, having mandated Barclays Capital, Dresdner Kleinwort, JP Morgan and UniCredit.
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Eurohypo Luxembourg is in the market with a $500m three year lettres de gage Eurobond. The book is almost fully subscribed and pricing is expected by tomorrow (Friday) morning.