Covered Bonds
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Previously mooted covered bond plans not completely off the table -
The spread was tightened by more than on any other covered bond in the past four weeks
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OLB raised tricky seven year funding amid renewed rates volatility
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A steep rise in four year yields to more than 1% sparked investor interest
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French firm ends long absence flat to its Swiss franc curve
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Despite less demand from the ECB, covered bond flows are in rude health
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Deal priced inside guidance in contrast to an earlier Slovakian deal from VUB
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Issuer’s price target was not met, but outcome was still impressive
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Orders for the well subscribed deal continued to flood in after spread was set
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French financial group has raised €6.5bn in the covered bond market so far this year
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Issuing bonds set to grow tougher for weaker credits or those looking to borrow for longer
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Bonds price flat to TD as short maturity catches central bank bid
