Covered bond issuers dive into long end while conditions allow

By Bill Thornhill
05 Jan 2017

Four covered bonds issuers raised almost €6bn between them at the long end of the curve this week, suggesting borrowers are prioritising tougher, longer duration deals. And while conditions permit some are issuing in the largest size possible.

Caffil and CaixaBank both issued €1.5bn 10 year deals on Tuesday, ABN Amro followed with a €2bn 15 year on Wednesday and Helaba priced a €750m 10 year as part of a two tranche offering on Thursday.

The return of demand for longer dated covered bonds marks ...

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