Top section
Top section
Most recent
◆ Issuance plans were disrupted by war in the Middle East ◆ Spread tightened by 4bp ◆ NIBC is going to be acquired by ABN Amro
◆ Issuer's first in almost a year ◆ Issuer opts for no-grow deal ◆ Investors show greater price despite stronger market on Monday
◆ British building society landed first 10 year since before the war ◆ Pipeline expected to be slow from now ◆ Investors will watch secondaries for performance says lead
Data
Sub-sections
Sub-sections
Deal reviews
◆ Canadian bank last issued covered paper in January ◆ Lead managers picked only one comp ◆ BNS has large covered redeeming on Monday
◆ Banker said deal offered little new issue premium ◆ Euro transaction on Tuesday triggered the deal ◆ Lloyds' last sterling covered was issued in October 2025
First new covered bond since the end of February ◆ Deal shows investor preference for short-dated paper – RBC ◆ Issuer benefits from minimal exposure to Middle East, says banker
◆ Norwegian bank increases size ◆ Issuer meets spread objective ◆ Banker said he drew confidence from secondaries
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
Underlying concerns among investors and issuers about covered bonds force them to the sidelines
Market participants agree new issue premiums will go up when the Iran war ends, but not by how much
Specialist investors and strong names dominate as issuers stretch out to 15 years
Unsecured bonds could become more expensive to issue, covered bonds cheaper
More articles
More articles
More from covered bonds
-
Julius Baer ventured into the Swiss franc market this week to sell its debut operating company bond, raising Sfr260m ($276.9m) in an investor diversification exercise. It was joined by Pfandbriefzentrale, which saw demand skewed to the long and short ends of its latest multi-tranche covered bond offering. -
The European Union’s final draft Taxonomy of Sustainable Economic Activities came in for heavy criticism from a European bank's head of funding on Thursday, who said that the compromise wording would torpedo the market for green covered bonds.
-
The Covid pandemic has delayed a lot of progress in the capital markets, but bankers say the industry is still on track to meet Libor transition deadlines. Investors have consented to the Bank of Nova Scotia transitioning the basis of its sterling covered bond from Libor to Sonia, while Westpac is seeking consent.
