Repricing takes market out of no-man’s-land
A Eu1.25bn two year deal for Swedish Covered Bond Corp this (Thursday) morning priced 18bp wider than comparable issuance just two weeks ago signalled the repricing of the covered bond market. But while some issuers and investors were rueing the leap in spreads, many bankers were welcoming the new realism being adopted by this week’s borrowers, also including CIBC, Sparebank 1 and possibly an Italian before the week is out.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts