Covered bond issuers flood back into euros with 'cautious' NIPs
Issuers rushed to open the euro covered bond market this week. Trades from ABN Amro, Erste Group and LBBW showed that investors are ready to put cash to work, but higher new issue premiums suggested that issuers were taking a 'conservative' approach at the beginning of the year.
“The flood gates are open,” said a DCM banker. “I am surprised to see this many trades out.”
There were 12 new transactions from financial institution in the euro market on Tuesday, just as the holiday period came to an end in Europe.In the covered bond market, there were ...
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