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◆ Euro funding competitive with GS' dollar curve ◆ Large premiums left on all tranches ◆ Massive investor demand
Covered issuance 'more or less done for now,' analysts say
Covered bonds performed despite geopolitical shocks in early 2026 and will continue to do so for the rest of the year, Rabobank has suggested
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Beyond the proposed lower leverage ratios, new frameworks may give banks more flexibility at times of stress
Recent Unicaja tender and new issue prompts talk of wider adoption of debt management technicque more popular in US market
Banks are well advanced with funding, but spreads could encourage pre-funding of subordinated capital
Europe’s regulator proposes preserving capital requirements while trimming the complexity that hampers cross-border M&A
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◆ First RT1 since January ◆ Huge order book with no attrition ◆ High-beta appetite increases further down the capital structure, lead says -
◆ Issuer's first sterling covered since September ◆ Positive sign for 'diversification' said a banker ◆ One of five tranches of covereds on Tuesday
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◆ Italian issuer's first covered since June 2023 ◆ Demand for seven year tranche was pleasing, says one banker ◆ Scarcity helped demand for euro transaction
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◆ Belgian bank fixed the deal size at €750m ◆ Issuer's first covered since January 2025 ◆ Third Belgian covered in just over a week
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◆ Order book peaked at close to €2bn ◆ Issuer announced plan to launch ESN in May ◆ Analysts predict mixed fortunes for instrument in the immediate future
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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