Covered Bonds
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There is a strong investor bid for non-eurozone names
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Hamburg-based lender’s latest 10 year more than four times covered
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Over €12.5bn of orders pledged for rare and tightly priced covered bonds
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Debut €500m five year deal spotted up to 7bp through reoffer in the grey market
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Smaller, weaker FIG issuers bathe in spotlight as anything and everything sells
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Investors are hungry for higher yielding FIG bonds
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Up to two visits to primary market planned each year, but senior unsecured is not on the bank's radar
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French bank is a force in covered and overseas unsecured issuance
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Euro covered levels look attractive to sterling borrowers, say bankers
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Investors are showing a hunger for ‘spready’ periphery covered bonds
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Covered bonds are popular across Europe, but domestic demand is still king
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Investors were quick to take part, pledging Skr20bn after only 35 minutes of book building