Americas

Royal Bank of Canada (RBC) has opened the books on its inaugural, five year covered bond this morning with price guidance that appears to be gaining traction among investors.

Tim Skeet, head of covered bond origination at Merrill Lynch and conference chair, introduces Sheila Bair, chairman of the FDIC, who makes her opening remarks.

The Royal Bank of Canada (RBC) is set to launch its inaugural benchmark covered bond next Monday and all eyes will be on just where the first Canadian transaction is positioned relative to outstanding sectors, especially the UK.

Achmea Hypotheekbank is expected to launch a covered bond announced today (Thursday) early next week, having mandated Barclays Capital, Dresdner Kleinwort, JP Morgan and UniCredit.

Bank of Scotland, formerly HBOS, is expected to issue a seven year euro benchmark covered bond in the coming days.

The Royal Bank of Canada has begun the roadshow for its inaugural covered bond, the first from Canada, which is expected to be launched next week.

The Royal Bank of Canada’s (RBC) debut covered bond issue is expected to closely follow existing UK structures when it is launched after a roadshow starting on Monday. RBC is hopeful that this familiarity coupled with Canada’s stable housing market will prove appealing to investors.