DKB
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Asset managers and hedge funds are set to continue buying covered bonds because of their yields which are averaging around 3% -
Covered issuance 'more or less done for now,' analysts say
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New issue premiums have remained around 2bp despite five deals in the past two weeks compared with 12 in the previous two weeks
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◆ First covered bond of 12 years or longer since the bank issued in January ◆ Banker ‘positively surprised’ with size ◆ Premium paid
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Deal looks to satisfy demand for highly-rated long-dated covered bonds
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Issuers are waiting for the volatility caused by the escalation of the war in the Middle East to normalise, bankers have said
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Many factors could affect the relative value of covered bonds and SSAs this year
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Specialist investors and strong names dominate as issuers stretch out to 15 years
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◆ French issuers weighing deals for next week ◆ 'Smaller projects' may come this week ◆ Blackouts blamed for Wednesday's drop in issuance
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◆ German bank started wider at 50bp before tightening ◆ DKB is known for issuing at the long-end ◆ Bond is trading as much as 2bp tighter in secondary
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◆ DKB returns to senior funding after four year absence ◆ First German bank to use EuGB Standard ◆ Íslandsbanki goes for duration play
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Dance between secured and unsecured FIG bonds puzzles bankers
