Covered Bonds
-
◆ BayernLB ends two year public sector Pfandbrief absence ◆ Tatra issues for the first time this year ◆ Little to no premium needed for either deal -
◆ Eika picks sevens for second deal of 2025 ◆ Investor limits restrict pricing ◆ Single digit premium paid
-
◆ Combined demand closes at €2.9bn ◆ Little to no premium needed for either leg ◆ More size taken at the long end despite smaller book
-
Insurers and asset managers drive long dated revival
-
◆ Deal attracts strong early momentum ◆ Slim premium paid as HVB lands size ◆ Pick-up offered over German SSAs
-
◆ Caffil aims for 12 years, LBBW goes for 10 ◆ Pair of €500m deals attract almost €5bn of combined demand ◆ Single digit concessions offered
-
◆ Joint biggest deal of the year attracts largest book since last May ◆ Final spread the tightest in almost a year ◆ Sterling offers saving compared with euros or dollars
-
◆ Trade the tightest in euros since early April ◆ Single digit concession paid ◆ Deal comes close to SSA curves
-
◆ Deal was Sparkasse Hannover's second in benchmark format ◆ Domestic demand drives deal but some international accounts take part ◆ Next to no premium paid
-
◆ Deal lands close to fair value ◆ Demand holds firm despite 7bp spread move ◆ CEE a 'growing' market for covered bonds
-
Diversity of deals on offer as recession fears subside
-
◆ UBS's covered programme now 'well-known' a year after launch ◆ Investors like the chance to pick up triple-A rated Swiss risk in euros ◆ Premium needed for contractual structure
