SG sets standard for new French format

Benchmark euro issuance in the covered bond space totalled almost Eu7bn this week, as the market regained some of the fine form it enjoyed in the first quarter of the year. Though the environment for peripheral issuers became more positive towards the end of the week, supply came entirely from a small group of core jurisdictions whose issuers are unaffected by the worsening conditions in Europe’s periphery.