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◆ UK lender builds demand across two legs ◆ Equivalence 'noise' no problem ◆ Canadian paper provides the closest, most recent comparables
◆ German issuer lands €1bn at tightest spread... ◆ ...but still pays a premium ◆ Shorter Pfandbriefe less popular with issuers this year
◆ Scotia moves quickly to tap resurgent sterling market ◆ Trade lands through CIBC and flat to fair value ◆ Confidence returns to sterling covered investor base
Sub-sections
Sub-sections
Deal reviews
◆ UK lender builds demand across two legs ◆ Equivalence 'noise' no problem ◆ Canadian paper provides the closest, most recent comparables
◆ German issuer lands €1bn at tightest spread... ◆ ...but still pays a premium ◆ Shorter Pfandbriefe less popular with issuers this year
◆ Scotia moves quickly to tap resurgent sterling market ◆ Trade lands through CIBC and flat to fair value ◆ Confidence returns to sterling covered investor base
◆ Dutch issuer has raised €1.5bn in three trades ◆ Deal priced near fair value ◆ Trade timed to avoid French political volatility
Opinion
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime
The industry’s obsession with appointing co-heads plays into its reputation for competition rather than cooperation
Post-management senior positions can be very valuable, but only if handled right
Analysis
Banks, corporates, even the government find eager buyers
Slim premiums and big price tightenings achieved
Lower than expected issuance volume to keep covered spreads tight into the autumn
Core Europe to lead the charge but without German issuers
More articles
More articles
More from covered bonds
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Swiss bank is only the second institution globally to use the instrument -
◆ Issuer may be among final few before hiatus ◆ 'A strong outcome' for issuer ◆ Covered bond issuance has been making up lost ground
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◆ Long deal 3.4 times covered ◆ No concerns about pricing in busy market ◆ Pricing through OATs no problem
