Covered Bonds
-
Issuers will need to move early and nimbly as credit and rates sentiment will be choppy -
Tighter US monetary policy is inevitable. Europe will lag but it is moving in the same direction, implying a ‘first mover advantage’ for issuers
-
The 15 year tenor could re-open for the right name and spread
-
Investors sell short notes to make room for longer deals with concessions
-
Concessions increased in higher risk markets while oversubscriptions waned
-
US investment bank selects new head of euro SSA trading
-
Deal illustrates market is open for right name and tenor
-
Screws turn on covered bond and SSA issuers as 10 year Bund yield turns positive for first time in years
-
Now is the time to embrace funding flexibility by considering different execution strategies and pricing techniques
-
NBC achieves tighter spread than larger peers, albeit in smaller size
-
Borrower prints latest deal with a small premium over domestic covered bonds
-
Pulled tranche and pricey six year from Raiffeisen come as Muenchener Hypothekenbank fails to tighten last basis point
