Covered Bonds
-
Toronto Dominion plays fair with FRN investors with matched pricing -
◆ Inaugural bond expected early next week ◆ German deal secured against Dutch mortgages ◆ Deal expected to be popular despite quirks
-
◆ Rare deal pairs payouts in the same tenor ◆ €1.5bn also raised in longer tranche ◆ No cannibalisation
-
◆ Slower deal appeals to ‘true covered’ buyers ◆ Slim premium paid over recent deals ◆ Deal is Italian lender’s first of its fiscal year
-
◆ Deal takes size despite lower line availability ◆ Premium paid over comparable bonds ◆ Benchmark SpaBol’s second deal of 2024
-
◆ Next to no premium needed for capped sale ◆ Demand holds firm despite price tightening ◆ Popular deal broadens investor base
-
◆ Why benchmark issuance has resumed earlier than usual ◆ What lies ahead for capital markets ◆ African issuers switch out of loans to bonds
-
Up to five years ‘the right place to go’ but the curve to 10 years could reopen soon
-
Shorter deal fits mortgage origination pattern as investor appetite vanishes for ultra-longs
-
◆ Dutch bank last issued in 2022 ◆ Investors eager to buy after lacklustre June and July ◆ Next to no premium needed
-
◆ Deal Berlin Hyp’s second benchmark of the year ◆ Some investors had their fill of Berlin Hyp ◆ Buyers look towards higher spread senior market instead
-
◆ German lender readies its first benchmark since January ◆ Deal sized to be capped from the outset ◆ No 'rush' of further supply coming
