LBBW
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Smaller, private banks likely to issue in coming weeks, experts have said -
◆ Issuer’s last covered was in May 2023 ◆ Fifth Dutch covered bond in past month ◆ Fifth €500m no-grow deal in past two days
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◆ Lender's first covered since September 2024 ◆ Deal was fixed at €500m and tightened by 5bp ◆ Banker said the trade offered 1bp of new issue premium
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◆ Finnish lender's first covered since September ◆ Third Finnish covered bond issued this year ◆ Helsinki-based bank fixed size at €500m
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The Norwegian bank is planning to issue 'in the near future' its first covered bond since September 2024
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◆ 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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Changes to ECB collateral eligibility requirement could lead to more blockchain-based covered bonds, Moody's suggests
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◆ German bank pays small new issue premium ◆ Issuer could have tightened further, banker says ◆ Deal latest in raft of public sector covereds this year
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◆ Order book smaller than issuer’s last covered in January ◆ Banker said covered bond market has reached plateau ◆
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◆ UK building society offered 1bp-2bp NIPs on each tranche ◆ Banker said covered was 'well-flagged' ◆ Second banker said they took BNS and added 'UK pick-up'
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◆ Finnish bank tightened by 8bp through execution ◆ Banker said 35bp starting point was 'spot-on' ◆ Second banker said deal went 'better than expected'
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◆ Finnish bank tightened by 7bp through execution ◆ Banker said FRV not easy to calculate ◆ Second banker cited recent strong Nordic covereds
