Covered bond pipeline bulges with seven issuers eyeing deals

Water Pipe
By Bill Thornhill
04 Nov 2019

Caffil, Crédit Mutuel Arkéa, Danish Ship Finance, Deutsche Bank, DZ Hyp, mBank, and NordLB are lining up a plethora of unusual and inaugural issuance, as they look to benefit from the European Central Bank’s decision to resume net purchases at higher-than-expected volumes.

Deals issued last week by Deutsche Kreditbank and BPCE showed that the European Central Bank was ready to buy up to 40% of eligible primary transactions, well above the circa 25% that many had expected.

The transactions were very successful, but it is not clear how ...

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