Covered Bonds
-
Wells Fargo got the week's financial institutions bond market off to a strong start with a large seven year deal giving syndicates hope that others would follow in euros this week. They were disappointed.
-
The London branch of the Japanese firm has put two bankers ‘at risk,’ one of whom had been actively involved in emerging markets, covered bonds and SSA syndicate.
-
A senior FIG syndicate banker has quit BNP Paribas to move to Danske Bank in Copenhagen.
-
The European Commission (EC) has published a report in which it agrees with the recommendations of the European Banking Authority (EBA) that the preferential risk weight of qualifying covered bonds is appropriate. It also opens up the possibility of extending preferential treatment to dual recourse bonds backed by SME collateral, or European Secured Notes.
-
The London branch of the Japanese firm has put two bankers ‘at risk,’ one of whom had been actively involved in emerging markets, covered bonds and SSA syndicate.
-
A senior FIG syndicate banker has quit BNP Paribas to move to Danske Bank in Copenhagen.
-
The Norwegian covered bond borrower issued its second deal of the year on Wednesday. Though the final spread was on the generous side, and the book only just covered, the overall cost of funding was less than half what it paid in March.
-
A year after issuing its last euro denominated benchmark, Caisse Centrale Desjardins du Quebec (CCDJ) has mandated leads for a European roadshow.
-
While the week may have looked set to be busy following Monday’s fare, in which €5.4bn was priced across senior, subordinated and covered bonds, little meaningful supply has followed.
-
Swedbank returned to the sterling covered bond market to issue its second sterling deal this year. Though the issuer paid a minimal concession, the spread was almost double what it paid in August and the order book almost half.
-
The covered bond purchase programme (CBPP3) has been a roaring success from point of view of smaller banks in Europe’s periphery. But it may have simply postponed difficult choices.
-
The covered bond purchase programme (CBPP3) has been a roaring success from point of view of smaller banks in Europe’s periphery. But it may have simply postponed difficult choices.