Covered Bonds
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Oberösterreichische Landesbank (OÖ LB) has mandated joint leads for a sub-benchmark sized euro covered bond with an intermediate to long maturity. -
The Dutch lender has mandated leads for an ultra-long soft bullet covered bond which will follow a roadshow due to begin next week.
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The French owned Belgian bank has appointed leads to market its first legally compliant covered bond that is backed by Belgian mortgages.
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The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.
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ASB Bank extended its euro curve with a tightly priced seven year. But with half the demand that was seen in the previous seven year from a New Zealand bank, its size ambition was thwarted.
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The Italian subsidiary of Crédit Agricole has issued the longest Obbligazioni Bancarie Garantite ever seen with a dual tranche offering that boasted one of the most granular distributions.
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The European Commission has published the draft delegated act on derivative collateral posting. It has ignored the advice of the European Supervisory Authorities (ESAs) and allowed subordinate swaps to be exempt from collateral posting and central clearing.
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The Italian subsidiary of Crédit Agricole has issued the longest deal ever seen in the history of the Obbligazioni Bancarie Garantite market, and with 140 orders, one of the most granular distributions.
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ASB Bank, the fully owned subsidiary of Commonwealth Bank of Australia, extended its curve on Tuesday with a €500m seven year covered bond. But the deal received less than half the demand than ANZ New Zealand did in September despite offering a pick-up to it.
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The Spanish bank has mandated leads for a roadshow to market what will be its first covered bond in six years.
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Nordea Bank Finland has been dissolved and its mortgage bank business has been transferred to a new covered bond issuing entity, suggesting it could be ready to return to the covered bond market after an absence of exactly one year.
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Turkish funding officials are hopeful covered bond supply will improve in 2017 as new debut names surface and deals price tighter than the sovereign.
