Covered Bonds
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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. -
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.
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The European Commission could ignore the advice of the European Supervisory Authorities, and carry on carving out covered bond swaps from onerous collateral posting rules.
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Stadshypotek attracted a wealth of demand on Monday for its first covered bond backed by Finnish mortgages, and priced the deal much tighter than initially indicated with few investors falling out.
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UBS is seeking the agreement of investors to change the maturity structure of two hard bullet covered bonds to soft bullets with a 12 month extension.
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PKO Bank Hipoteczny has mandated leads to go on a roadshow with the first euro benchmark covered bond from Poland.
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Pfandbriefbank Schweizerischer Hypothekarinstitute placed on Tuesday a dual tranche deal in Swiss francs. The shorter tranche was fashioned into a 12 year clip to entice investors looking for positive yield.
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Panama’s Global Bank has announced a tender offer for its structured covered bond.
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The Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg has approved the covered bond prospectus of PKO Bank Hipoteczny and the issuer has mandated leads for a roadshow.
