Covered Bonds
-
In brief: The Cover understands that Günter Gleumes will be joining Landesbank Baden-Württemberg in the coming weeks as head of debt capital markets.
-
Santander is expected to price the first benchmark Spanish covered bond since June 2008 at the tight end of guidance this (Monday) afternoon, riding a wave of positive sentiment in the market sparked by the European Central Bank’s announcement last Thursday of a Eu60bn plan to buy covered bonds.
-
Fitch on Friday took rating actions on five subsidiaries of Commerzbank, including Eurohypo and its Luxembourg subsidiary, following the European Commission’s conditional approval of Germany’s state aid for Commerzbank.
-
Data includes jumbo issues in euros and $1bn minimum issues in dollars; excludes retained deals under Dealogic criteria. -
Kookmin Bank’s chief executive has declared himself satisfied with the 500bp over mid-swaps spread achieved on the bank’s $1bn five year covered bond, the first from Asia, as market opinion appeared to be swinging behind the pricing.
-
The European Central Bank surprised and delighted the covered bond market yesterday (Thursday) by announcing that it would purchase as much as Eu60bn of covered bonds as part of its measures to support the eurozone financial system. However, market participants suggested that the asset class could be in limbo until details of the plan are announced on 4 June.
-
Data includes jumbo issues in euros and $1bn minimum issues in dollars; excludes retained deals under Dealogic criteria.
-
The European Covered Bond Council (ECBC) today (Thursday) launched an online database that allows market participants to compare key features of different covered bond frameworks across Europe and the US.
-
-
-
HSH Nordbank’s Schiffspfandbriefe have been downgraded by Moody’s from Aaa to Aa3, but the rating agency affirmed the Aaa rating of the bank’s public sector covered bonds. It also lowered the Timely Payment Indicator of the Schiffspfandbriefe.
-
Compagnie de Financement Foncier yesterday (Wednesday) reopened a March 2013 Swiss franc deal for the third time, and attracted broad support for the tap.
