Currencies
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Compagnie de Financement Foncier has opened the books for the longest dated jumbo covered bond since the credit market volatility shut the market down in mid-August.
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Swedish bank SEB is to issue its debut euro covered bond.
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Caisse de Refinancement de l’Habitat (CRH) has completed a Eu700m increase to its October 2015 issue on the back of a Eu1.2bn order book. Guidance started at 7bp over mid-swaps and was tightened to plus 6bp three and a half hours after books opened this morning.
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Landesbank Rheinland-Pfalz’s Eu500m five year public sector Pfandbrief was the only new issue today, with the market quiet ahead of tomorrow’s holiday in Germany.
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Compagnie de Financement Foncier reopened the obligations foncières sector today with a Eu1bn five year issue priced at mid-swaps flat that confirmed the covered bond market’s recovery.
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Erste Bank launched its first euro denominated public sector backed covered bond in the international market yesterday (Thursday), a two year floating rate note that was increased from Eu100m to Eu150m and then Eu160m on the back of strong demand.
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Caisse de Refinancement de l’Habitat expects to price a Eu2bn three year issue this (Thursday) afternoon, which will be its first transaction to include a market-making commitment.
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Landesbank Baden-Württemberg priced its largest ever jumbo Pfandbrief today (Thursday), a Eu2bn five year public sector issue that has reinforced the reopening of the primary covered bond market. -
Landesbank Baden-Württemberg will launch the first jumbo Pfandbrief since the market ground to a halt this summer, a five year public sector deal mandated to Citigroup, LBBW and UniCredit. Early talk suggests a spread of mid-swaps flat.
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Sparebank 1 Boligkreditt priced its debut covered bond this (Tuesday) morning, a Eu1.5bn three year transaction that has won plaudits for its unhurried execution.
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Sparebank 1 Boligkreditt has closed the books on its inaugural covered bond and will price it at the tight end of guidance and the upper end of its size range later today (Monday) or tomorrow.
