Covered Bonds
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Dollar paper trades wider than euros, but issuer is happy to pay up to diversify -
UK long term mortgage lender eyes a private placement for inaugural deal
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Asset mangers among the buyers as orders swell to £1.85bn
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Bank borrowers are eager to make the most of strong bid for covered bonds
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The awards recognise the leading deals, issuers, banks and other market participants
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Both issuers print with no new issue concessions, but Sparebanken Vest benefited from scarcity appeal and belly of the curve bid
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A UK hedge fund put in the largest order
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Three year floating rate covered deals pricing flat to fixed rates
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Going longer doesn’t seem as steep when everything is elevated
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Rampant bid but issuers likely to wait for spreads to tighten
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Market relishing a week without holidays as banks come out of blackout
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Inaugural issues to underline just how strong and receptive the market is
