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Most recent
◆ Issuer’s last covered was in May 2023 ◆ Fifth Dutch covered bond in past month ◆ Fifth €500m no-grow deal in past two days
◆ Portuguese bank has issued one covered each year since 2023 ◆ Banker on the deal said bonds offered small new issue premium ◆ Strong recent covered supply may have affected demand, another banker said
◆ UK lender's sixth public dollar covered bond of 2026 ◆ Issuer has placed dollar, sterling and euro covereds this year ◆ Deal size fixed at $1.5bn from $1.95bn order book
Data
Sub-sections
Sub-sections
Deal reviews
◆ Bank prints first Belgian covered in over six months ◆ Issuer caps order size at €750m from start ◆ Covereds this week offering more new issue concession
◆ €1.5bn covered is ING's first of 2026 ◆ 5bp of concession ◆ 'Sweet spot' tenor
◆ Issuer tightens spread by 4bp ◆ Stronger opening on Wednesday paved way for covered ◆ Deal offered some new issue premium
◆ Bond the first EuGB covered ◆ Danish issuer tightens spread by 5bp ◆ Issue offers next to no concession
Opinion
The preference for a diverse group of lead managers and the convention of reciprocity keep covered bond bookrunning competitive despite concentration so far this year
Rate increases could be closer than you think
Equalising risk weightings of covered bonds and resilient STS securitizations at 5% is sound
Bank's head of DCM and syndicate chief talk bond market expansion plans
Analysis
European and other regulators are working on reforms to make covered bond funding more efficient
Changes to ECB collateral eligibility requirement could lead to more blockchain-based covered bonds, Moody's suggests
All three 2026 dollar covered bonds issued in past fortnight as issuers adapt to market conditions
Swiss franc covered bond from Kiwibank the only deal on Thursday after a patchy week
More articles
More articles
More from covered bonds
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Commerzbank reopened the covered bond market with the first covered bond of the year and the first in more than a month. The generously priced two part transaction was slow to start, but in the context of a weak and volatile market backdrop, the size was impressive. -
Commerzbank and LBBW are looking to become one of the first issuers in the euro market in 2019, having both announced new mandates for covered bonds on Friday.
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The Covered Bond Directive is reaching a critical stage that will determine the market’s form and shape for years to come. Luca Bertalot, general secretary of the European Mortgage Federation and European Covered Bond Council, discusses this — and other key factors that will drive the market in 2019.
