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◆ Sterling trade was lender's third tranche of covereds this year ◆ 48bp was in line with fair value, a banker said ◆ Santander UK's first sterling covered since May 2025
Santander adds to euro pipeline with German consumer ABS
◆ OCBC's prices first covered bond since April 2025 ◆ 10th Asian covered issued in 2026 ◆ Order book peaks at over €2bn but lost €400m
Data
With masses to fund and spreads super-tight, banks will race to market, but central banks are expected to tighten
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
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◆ Orders fail to match recent T2 deals, but rivals say that’s OK ◆ Why psychology matters ◆ Debate on premium -
◆ Dutch bank last issued in 2022 ◆ Investors eager to buy after lacklustre June and July ◆ Next to no premium needed
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Over Sfr1.45bn printed in two days as Roche, Geberit, CCDJ and Equinix all hit the market
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◆ Dual-tranche offering is second euro visit this year ◆ No-grow and green format on short tenor helps tightening ◆ Evidence of duration demand
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◆ Senior FIG market reopens after summer break ◆ Minimal premiums paid ◆ ‘Competing trades working well’ say bankers
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◆ Big demand despite arriving a day after ING deal ◆ Minimal NIP for size ◆ BNP's first tier two in 2.5 years
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
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