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Deal reviews
◆ Bank prints first Belgian covered in over six months ◆ Issuer caps order size at €750m from start ◆ Covereds this week offering more new issue concession
◆ €1.5bn covered is ING's first of 2026 ◆ 5bp of concession ◆ 'Sweet spot' tenor
◆ Issuer tightens spread by 4bp ◆ Stronger opening on Wednesday paved way for covered ◆ Deal offered some new issue premium
◆ Bond the first EuGB covered ◆ Danish issuer tightens spread by 5bp ◆ Issue offers next to no concession
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
European and other regulators are working on reforms to make covered bond funding more efficient
Changes to ECB collateral eligibility requirement could lead to more blockchain-based covered bonds, Moody's suggests
All three 2026 dollar covered bonds issued in past fortnight as issuers adapt to market conditions
Swiss franc covered bond from Kiwibank the only deal on Thursday after a patchy week
More articles

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More from covered bonds

  • UK Sonia-linked covered bonds were trading stably on Tuesday, in contrast to euro denominated UK covered bonds which have been marked wider amid rising expectations the UK will crash out of the European Union. But, with macro-economic risks abounding, the global picture is disturbing bankers.
  • FIG
    Participants in the financial institutions bond market had expected that issuers could hit screens with new transactions as early as this week, but so far macroeconomic and political uncertainty has discouraged them from putting investor appetite to the test this summer.
  • A ratings boost for Portugal could alert the country's covered bond issuers to the chance to print more, with the asset class at historically tight spreads.