VUB to issue Slovakia’s first covered bond benchmark

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By Bill Thornhill
18 Mar 2019

After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.

Subject to market conditions, VUB plans to open order books on Tuesday for a €500m five year no-grow covered bond through joint leads Banca IMI, Commerzbank, Deutsche Bank, Erste Group and LBBW.  

The Slovak bank has issued euro covered bonds regularly, but until ...

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