Top section
Top section
Most recent
Despite uncertainty in the Middle East peace process, market participants are seeing risk appetite from FIG investors
In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
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
-
Yorkshire Building Society (YBS) broadened its investor base on Friday with its first sterling covered bond in six years. The deal was set to price in line with a similar five year Sonia-linked bond issued this week by Coventry Building Society but with less demand. Even so, supply hopes remain alive. -
DBS Bank is planning a roadshow ahead of its first dollar covered bond in over three years, and the first from a Singaporean bank since February 2017. The expected deal follows two large Canadian benchmarks and shows that dollar covered bond funding is becoming more compelling than euros.
-
A feasibility study on prospective issuance of European Secured Notes (ESN) — a dual recourse structure that works like a covered bond — suggests good potential for demand but limited scope for supply. Even so, setting up a legislative framework is probably a good idea as circumstances may change, the study has concluded.
