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European Central Bank's more balanced tone, however, may offer reprieve of stability for deal execution
Shrinking books 'nothing to complain about' as market values quality not quantity
Inflation fears and rate volatility keep euro issuance at bay
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
Shrinking books 'nothing to complain about' as market values quality not quantity
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
More articles
More articles
More from covered bonds
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Canada’s Equitable Bank has registered its covered bond programme this week. It expects to issue its first transaction in euros at the short end of the curve in the second quarter. -
Achmea has become the latest Dutch bank to transition to a soft bullet maturity. This will have a material impact on central bank treatment and funding, but opportunities to extract value in the secondary market will be a challenge.
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The European Covered Bond Council is to launch its energy-efficient mortgage label on Friday with a virtual event. The label will act as a “lighthouse” for all stakeholders, marking a clear way towards a green housing renovation revolution, the ECBC’s Luca Bertalot told GlobalCapital on Tuesday.
