Covered Bonds

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  • SR Boligkreditt and Hypo Tirol mandate covered bonds

    SR Boligkreditt and Hypo Tirol mandate covered bonds

    Hypo Tirol Bank has mandated leads to roadshow its first social covered bond and SR Boligkreditt has mandated leads for a vanilla deal. Both issuers plan on following printing 10 year deals, where yields are almost positive.

  • TD’s Rehman heads back to Toronto

    TD’s Rehman heads back to Toronto

    Sameer Rehman, director of debt and capital markets at TD Securities in London, is heading back to Toronto after 12 years in the UK to focus on Canadian public sector borrowers.

  • Falling deposits would boost covered bond supply, says bank funding chief

    Falling deposits would boost covered bond supply, says bank funding chief

    Increased consumer spending, leading to a fall in deposits would provide the catalyst for higher covered bond issuance, according to one European bank's head of funding. But only if the credit curve steepens and senior debt grows more expensive to raise relative to covered funding.

  • HVB to issue positive yielding 10 year Pfandbrief

    HVB to issue positive yielding 10 year Pfandbrief

    UniCredit’s German subsidiary, HVB, is expected to open order books for a 10 year benchmark on Tuesday. With swap yields currently just positive, the deal has a slim chance of offering a positive return.

  • March covered bond supply to remain thin

    March covered bond supply to remain thin

    Bankers do not expect to a resurgence of primary covered bond supply in March with banks expected to focus on regulatory issuance. ECB covered bond purchase data was due on Monday afternoon, with market participants eager to see if the central bank increased its buying to contain the recent rise in yields at the long end of the curve.

  • Banks grow anxious over ECB’s ESG criteria

    Banks grow anxious over ECB’s ESG criteria

    Senior bank finance and capital markets figures speculated this week about where the ECB would be most likely to throw its weight in its effort to boost the sustainability of its balance sheet. With a senior eurozone central banker having recently urged it to decarbonise its assets, banks are on high alert as they anticipate sweeping changes to asset purchase and repo terms, writes Bill Thornhill.

  • Legal update to benefit Cédulas

    Legal update to benefit Cédulas

    The transposition of the EU's Covered Bond Directive (CBD) into Spanish law is likely to be credit positive, according to a poll of delegates who attended the Association of Financial Markets in Europe’s 12th annual Spanish Capital Markets Virtual Conference on Thursday.

  • Vorarlberg in high demand as yields rise

    Vorarlberg in high demand as yields rise

    Raiffeisenlandesbank Vorarlberg launched a 15 year covered bond on Wednesday that was three times subscribed and priced flat to fair value. It suggested that investors were eager to catch higher yields before they disappear.

  • Yield rise raises hope of tighter covered bonds

    Yield rise raises hope of tighter covered bonds

    The outlook for covered bond spreads has improved following this year’s rise in yields, although there is contention over whether the short or long end of the curve is the best place invest.

  • Head of ABS and covered bonds leaves BNP Paribas

    Head of ABS and covered bonds leaves BNP Paribas

    Boudewijn Dierick, BNP Paribas’ head of ABS and covered bonds, is leaving the bank to join Auxmoney, a German consumer lender which set up a €500m warehouse with BNP Paribas in November.

  • Tax jab aimed at Australia almost hits EU investors

    Tax jab aimed at Australia almost hits EU investors

    The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions.

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THE EUROMONEY ECBC VIRTUAL COVERED BOND CONGRESS 2020

  • Covered bond conference 

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  • On September 9-10, 2020 Euromoney and the ECBC hosted the eighteenth annual meeting for the international covered bond market, virtually.

  • Key figures:

    • 3,030 hours spent on the platform
    • An average 4.30 hours spent on the platform by each delegate
    • 740 unique visitors from 40 countries
    • 35,000 visits to the platform

    To find out more and watch the sessions, click here 

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Roundtable

  • Covered bonds through Covid: the French issuers’ perspective

    Funding officials from Caffil, Credit Mutuel Arkéa and La Banque Postale gathered in early July to take part in a roundtable to discuss how they navigated their way through the peak of the crisis when covered bond market volatility was at its highest, and how they expect to manage funding in its aftermath, as the pernicious impact of the pandemic takes its toll.