Covered Bonds
-
Münchener Hypothekenbank could open the post-summer primary market, having mandated BNP Paribas, Commerzbank, DZ Bank and UniCredit Group for a public sector jumbo Pfandbrief to be launched in the coming weeks. The fate of the deal could set the tone for the early autumn issuance season.
-
In brief: Banco BPI has set up a Eu2bn public sector covered bond programme under Portuguese law and issued a Eu150m transaction, the first obrigações sobre o sector público.
-
In brief: Cheshire Building Society is working on a covered bond programme, but does not plan to issue in the public markets.
-
HSBC Covered Bonds (France) has filed a prospectus with the Luxembourg Stock Exchange for a Eu8bn covered bond programme. Meanwhile, Crédit Agricole looks to be finally close to completing its plans for issuance, having set up a Eu35bn programme.
-
Covered bonds could have an important role to play in Japanese public sector finance, according to research by Nikko Citi published today (Tuesday). And with ¥136tr (Eu826bn/$1.24tr) of public sector bonds outstanding at the end of the first quarter of this year, the market has huge potential.
-
In brief: George Soros calls for the introduction of covered bonds based on Denmark’s traditional balance principle in an article in the Financial Times today (Tuesday).
-
-
DekaBank is planning to enter Luxembourg’s lettres de gage market to give itself greater financing options than are available under Germany’s Pfandbrief Act. The bank has made hires from Depfa Bank and DG Hypothekenbank to staff its operation in the Grand Duchy.