OP prices tightest covered bond in a record-breaking week

By Bill Thornhill
16 Nov 2017

Several firsts were set in the covered bond market this week by issuers in Singapore, the Netherlands, Denmark and Germany. But at €1bn, OP Mortgage Bank’s long five year stood out for being not only the tightest Nordic deal ever issued in euros but also for being double the size of the others.

DBS Bank issued the first Singaporean covered bond through mid-swaps, Aegon Bank issued the first conditional pass through (CPT) well below mid-swaps, a transaction that was mimicked by Achmea Bank, which issued its debut CPT at the same level. Danske Bank for the first time priced in line ...

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