Covered Bonds
-
The Aussie dollar investor pool is diverse deep; dive in and take size -
Lower funding needs and tight senior spreads supress Aussie dollar covered supply
-
Sergio Herran to swap debt syndication for rates trading
-
Scarcity value help propel the book to almost €2bn
-
The UK building society attracted a combined €4bn of orders
-
Further Nordic supply expected from Sweden’s LF Hypotek
-
The long eight year tenor appealed to all sorts of investors, who pledged almost €2.6bn of orders
-
Upcoming deal could price in the low 30s over mid-swaps
-
Investors are ready to embrace unsecured bank debt yet again — but at double digit new issue concessions
-
Asset managers should be drawn to high spread products from infrequent names
-
◆ Senior FRNs in euros appear more cost-efficient for issuers than covered bonds ◆ Savings vary by issuer ◆ Asset mangers prefer to buy from higher-rated FRN issuers
-
Wider levels needed to offset volatility and tightening secondary curves
