NIBC gets wider and deeper demand for second CPTCB

By Bill Thornhill
03 Apr 2014

NIBC Bank returned to the covered bond market this week to launch its second conditional pass-through covered bond (CPTCB). The book suggested that the issuer attracted a greater scale of demand from a wider group of buyers than in its first deal. The growing acceptance of this innovative product at a much tighter spread bodes well for future use of the structure.

“Many investors had been interested when the first deal was priced, but wanted to wait and see how it performed,” said Toine Teulings, head of investor relations and funding in NIBC’s treasury.  “For this second deal we managed to build an even stronger order book than for our ...

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