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
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
-
Berlin Hyp’s six year green Pfandbrief and Bawag’s 20 year vanilla covered bond attracted strong demand on Tuesday reflecting the paucity of supply, a steadier rates outlook, the rare tenors on offer and, in Berlin Hyp’s case, the green collateral. At the same time VUB mandated leads for a five year covered bond, the first from Slovakia this year. -
Sustainability is likely to have a pivotal place in prudential discussions and properties secured on energy efficient mortgages could be in line for more favourable treatment than vanilla ones, the European Covered Bond Council and European Mortgage Federation’s secretary general, Luca Bertalot told GlobalCapital.
-
Berlin Hyp mandated leads for a rare green Pfandbrief on Monday. The deal has emerged amid a dearth of covered bond supply so far this year and takes advantage of a recent stabilisation in yields at higher levels.
