Apac covered bond supply hopes boosted

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By Bill Thornhill
25 Nov 2020

The outlook for Asian covered bond supply will have improved slightly in the wake of Tuesday’s deal from United Overseas Bank, particularly among Singaporean lenders. But issuance from Australia and New Zealand is expected to be more limited, reflecting their banks' priority to get ahead with regulatory funding.

After a two year absence, it was perhaps not a surprise that Tuesday’s €1bn seven year from UOB proved exceptionally strong. The deal came in the wake of the Monetary Authority of Singapore’s decision to raise the asset encumbrance limit from 4% of assets on balance sheet to ...

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