Issuers turn to sustainable covereds amid uncertainty
Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.
Covered bond spreads have been on a rollercoaster ride this year.
Funding conditions were more favourable than ever for issuers in February, but the market then suffered a deep sell-off in March, in the early stages of the coronavirus pandemic.Valuations have since returned to levels last seen ...