Covered Bonds
-
-
Syndicate officials were this (Monday) morning still struggling to come to terms with the impact of European Central Bank president Jean-Claude Trichet’s hawkish comments of last Thursday. Several issuers are nevertheless said to be monitoring the market, still hopeful of issuance this week.
-
The Association of German Pfandbrief Banks (vdp) on Friday re-elected Henning Rasche, member of the board of management of Eurohypo, as its president for a further two years.
-
An air of despondency settled over the Swiss franc bond market this week, after last week showed promise, with five varied and well executed deals in testing market conditions. However, a domestic issue for Pfandbriefzentrale der Schweizerischen Kantonalbanken lit up the market with the largest deal of the month.
-
With Canadian Imperial Bank of Commerce visiting investors on a European roadshow next week, The Cover spoke to the issuer as it attempted to explain why its mortgage-backed debut would also be the first public sector bond from Canada.
-
The covered bond market had a deflated feel to it this morning (Thursday) following the temporary postponement of the Swedish Covered Bond Corporation’s new issue. However, market participants refused to be derailed with leads suggesting the bond could return soon in slightly altered form if conditions change. Meanwhile, those outside the deal were unwilling to believe the primary market completely was closed.
-
In brief: Spains’s Cajamar has mandated banks for its inaugural euro cédulas hipotecarias.
-
Danske Bank priced a new five year covered bond yesterday afternoon (Tuesday) backed by international mortgage collateral from its Cover Pool I. The deal was increased from the minimum target of benchmark size and enjoyed an untroubled bookbuilding process.