Core covered banks issue in large size while they can

By Bill Thornhill
05 Jan 2017

Covered bond issuers from Europe’s core accessed the market across a range of intermediate tenors this week with LBBW, Compagnie de Financement Foncier (CFF) and Helaba issuing some of their largest deals in years.

Bond redemptions, a relatively low level of supply towards the end of last year, a pick-up in rates and positive sentiment in the wider markets have created supportive conditions for issuers across the full spread of maturities in the first week of the year.

But with mounting speculation ...

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