All hail the ECB: central bank to shape covered bonds in 2021

By Bill Thornhill, Frank Jackman
23 Dec 2020

The European Central Bank's various purchase programmes are set to continue shaping covered bond issuance next year, but away from the reach of the ECB, more niche markets are expected to flourish. Collected below is a selection of GlobalCapital’s covered bond outlooks for next year.

Volumes are expected to fall short of redemptions next year, with analysts at ING expecting €115bn worth of deals – far less than the €143bn of redemptions.

Issuance in the bank finance market will most likely focus on senior unsecured trades, rather than covered bonds, once ...

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