Crédit Agricole

Researcher is one of the covered bond industry's most celebrated analysts after 16 years at the French bank

◆ Issuer’s first covered since September ◆ Aussie bank tapped seniors last week◆ CBA’s was only covered benchmark on Thursday

◆ German bank fixes deal size from the outset ◆ Banker said the bonds offered a small new issue concession ◆ Primary market to slow ahead of the weekend, banker predicts

◆ Simultaneous execution with Alphabet's record deal bodes well for others ◆ More FIG names likely to print in near future ◆ Other European banks diversify funding in Singaporean and Australian dollars

Central and Eastern Europe earmarked as an area of growth by market participants

Ex-Crédit Agricole banker to be based in Paris

Édouard Sauce had been with the firm for almost a decade

◆ OCBC's prices first covered bond since April 2025 ◆ 10th Asian covered issued in 2026 ◆ Order book peaks at over €2bn but lost €400m

Market participants have questioned if the differential in the risk-weightings between securitized and covered assets will affect demand for covered bonds

◆ British issuer tightens both tranches 6bp ◆ Spreads in line with comparables ◆ Lloyd’s first covered since its sterling deal in March

The only covered bond issued this week landed with a small new issue premium

This week’s covered bond market was quiet compared to seniors and SSAs, bankers say