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◆ Deal attracts granular book for a Pfandbrief ◆ Premium paid but outcome still 'fair' ◆ Elsewhere, Finnish sub-benchmark deal proves popular
◆ 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
Sub-sections
Sub-sections
Deal reviews
◆ Deal attracts granular book for a Pfandbrief ◆ Premium paid but outcome still 'fair' ◆ Elsewhere, Finnish sub-benchmark deal proves popular
◆ 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
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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French covered bonds, southern European senior and tier two paper among the deals expected -
Dance between secured and unsecured FIG bonds puzzles bankers
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◆ Bank's first dollar benchmark bond for 10 years ◆ Most of paper sold outside Dach ◆ Diversification achieved at a cost to euros
