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New Pfandbrief platform brings Liechtenstein’s first ever covered bond
European and other regulators are working on reforms to make covered bond funding more efficient
◆ 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
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Sub-sections
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
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The European Banking Authority (EBA) has published a bold consultation paper setting out guidelines for loan origination and credit monitoring. Although the paper is likely to be welcomed, some areas will probably be burdensome for banks to comply with. -
Axa SFH issued its debut covered bond on Thursday, attracting a comfortably oversubscribed order book for the positive yielding eight year, which was priced at close to fair value. At the same time, Nationwide Building Society took advantage of the Swiss National Bank’s more generous repo arrangements to issue a three-part covered bond denominated in Swiss francs.
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Credit Suisse Switzerland issued its debut covered bond from its newly structured programme on Wednesday, achieving a very solid outcome in a short time frame. And the Swiss franc-denominated covered bond was quickly followed by another from the UK’s Nationwide Building Society.
