Senior bonds tussle with covereds as spreads converge

By Tyler Davies
31 Aug 2017

Senior preferred valuations have been moving ever closer to those of covered bonds, making it difficult for issuers to decide which funding instrument to favour in recent weeks.

“I don’t get the feeling that many issuers are considering issuing covered bonds in the next few sessions,” said one FIG syndicate banker. “It is a difficult market at the moment. In my view, you should do senior if you can. It is just much better value.”

In ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.