Covered Bonds
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The German Pfandbrief issuer ING-DiBa quickly executed a €500m 10 year mortgage backed deal on Tuesday, hours before US election headlines hit the screens, even though it had not been in the market since 2012.
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Sp Mortgage Bank, which is the central bank for Finnish savings banks, has mandated joint leads for a European roadshow to market its first covered bond. -
Bank of China has racked up another first with the inaugural green covered bond from the mainland. The deal’s unique structure garnered international attention, supporting the country's pursuit of leadership in green bonds.
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The FIG market looked set to shrug off Donald Trump’s surprise victory in the US presidential election on Wednesday, and bankers were optimistic that new issuance could restart in a matter of days.
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Covered bond spreads held firm as Donald Trump unexpectedly won Tuesday night's US presidential election. But, with many participants anticipating much greater US fiscal stimulus, rates markets could yet be roiled.
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The German Pfandbrief issuer quickly executed a €500m 10 year mortgage backed deal on Tuesday hours before US election headlines hit the screens, even though it had not been in the market since 2012.
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The European Mortgage Federation – European Covered Bond Council (EMF-ECBC) will present its Energy Efficient Mortgage initiative at the 22nd conference of parties (COP22) climate summit on November 15 in Marrakech.
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On the eve of the US election covered bond bankers considered what the election outcome might mean for their market. A clear victory for the Republican nominee, Donald Trump, would be likely to spur risk aversion which could ultimately improve demand for safer assets such as covered bonds from strong core European issuers.
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The German Pfandbrief issuing subsidiary of the Dutch bank, ING Diba, is expected to open books for a 10 year mortgage backed deal, its first in three years.
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National Australia Bank paid a minimal concession for a relatively large sterling five year, which it sold alongside a seven year senior unsecured benchmark, on Friday.
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Commonwealth Bank of Australia drew strong demand for its floating rate five year Australian dollar benchmark covered bond. The fixed rate five year portion managed to get to only half the size of the floating rate piece, while 10 year tranche was clearly more of a struggle.
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Bank of China grabbed market attention on Thursday with the inaugural green covered bond from the Mainland. The deal’s unique structure garnered international attention, supporting the country's pursuit of green bond leadership.
