Covered Bonds
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Standard & Poor’s is reviewing the assumptions and methodologies it applies when rating public sector-backed covered bonds, and those that inform cashflow analyses it carries out for covered bonds using Covered Bond Monitor.
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Münchener Hypothekenbank today (Monday) priced a Eu125m tap of a June 2015 benchmark mortgage Pfandbrief through mid-swaps.
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Standard & Poor’s affirmed at AA+, on stable outlook, its rating of Deutsche Pfandbriefbank’s public sector-backed covered bonds on Friday and removed them from CreditWatch developing, where it had placed the covered bonds on 16 April after cutting them from AAA to AA+.
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Christian Rose has left Société Générale, where he was a director in debt capital markets, to join Citi as part of a hiring spree by the US bank for its DCM business.
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Eurohypo today (Friday) added Eu250m to a June 2015 mortgage Pfandbrief in the only euro benchmark supply this week.
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Spain’s Bancaja and Banco de Valencia have taken remedial action to support multi-cédulas in which they participate, after the banks' ratings were cut by Fitch at the beginning of June.
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These charts and tables provide an overview of all benchmark covered bond issuance from January-July 2010, breaking down total supply by country and maturity, and comparing this year's volumes with those of previous months and years. -
These charts and tables provide an overview of covered bond issuance from January-July 2010, breaking down total supply by country, currency, and maturity, and comparing this year's volumes with those of previous months and years.
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Fitch downgraded mortgage-backed covered bonds issued by Greece’s Marfin Egnatia Bank from A+ to A- yesterday (Wednesday).
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The Cover understands that Florian Eichert, who left Landesbank Baden-Württemberg in May for Credit Suisse, will instead be joining Crédit Agricole as a covered bond analyst.
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Fitch placed Portuguese bank Caixa Económica Montepio Geral on Rating Watch Negative yesterday (Wednesday), because the bank’s owner, Montepio Geral Associação Mutualista (MGAM), announced its intention to launch a takeover bid for Finibanco-Holding SGPS. Montepio Geral’s covered bonds were unaffected by the rating action.
