Non-eurozone covered issuers favour fives

By Bill Thornhill
18 Jan 2018

DNB Boligkreditt and Canadian Imperial Bank of Commerce this week issued the first five year covered bonds of the year and found strong demand, even though there was a sensitivity around the final spread.

DNB differentiated itself in a crowded covered bond market on Tuesday by issuing the first five year deal of 2018, a strategy that paid off, given it was also the largest deal of the year.

The deal was mandated just as a trio of competing transactions in ...

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