Covered Bonds
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SSA and covered bond spreads well supported but views on yields uncertain
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The five year deal was larger than any dollar covered bond ever issued and was priced at the tightest spread ever
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Covered bond market watchers raise issuance expectations after bumper month
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A pioneering structure to mitigate currency risk used in Arion Bank’s debut euro covered bond will improve issuance prospects for borrowers in the emerging markets
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Russian Railways and MunHyp find Swiss demand at opposite ends of the credit curve
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Despite record size, ING’s Diba’s inaugural green covered bond lands flat to fair value
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Argenta Sparebank’s 20 year attracted the highest subscription of any Belgian covered bond in over a year, whilst CIBC unearthed more measured demand in the popular five year tenor
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Arion Bank’s innovative debut shows the way for compatriot issuers
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Royal Bank of Canada managed to attract good demand for a tightly priced seven year as Argenta Sparebank and ING Diba mandated leads
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Traders were unimpressed by the European Union’s debut bond auction on Monday and, although they admit spreads in the market are well supported, rising rates are a cause for concern
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Evergrande crisis helps spur bid for safe haven debt
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Just one debut issuer is planning a covered bond this week as investors digest September’s supply surfeit