Latest News
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FCDQ mandates leads for second euro covered bond of the year
The Fédération des caisses Desjardins du Québec (FCDQ) on Monday mandated leads for a euro covered bond, its second appearance in euros since January and its third overall in covered bonds.
18 Nov 2019 -
Credit Agricole hits the road with first green covered bond
Crédit Agricole has mandated its investment banking team to present its updated green bond framework, which will be used for its debut green covered bond, to investors.
18 Nov 2019 -
DZ Bank appoints new head of covered bonds
DZ Bank has appointed a new head of covered bonds in a move that acknowledges the bank’s growing league table presence in the euro covered bond market, particularly in Canada and Slovakia.
18 Nov 2019 -
YBS enjoys strongest ever sterling covered demand
Strong interest from investors outside the UK on Thursday ensured that Yorkshire Building Society (YBS) was able to attract the highest demand for any sterling covered bond it has ever issued. Moreover, the sizeable deal was priced with no new issue concession and several basis points cheaper than if it the funding was in euros.
14 Nov 2019 -
YBS to issue second Sonia covered bond
Yorkshire Building Society (YBS) mandated leads for a Sonia-linked covered bond on Wednesday, taking advantage of the excess demand that was identified in an earlier deal from Santander UK.
13 Nov 2019 -
Deutsche and Danish Ships covered innovations fail to sparkle
Demand for ground-breaking covered bonds issued on Wednesday by Deutsche Bank and Danish Ships Finance was adequate but both required hefty premiums — illustrating a higher degree of investor caution than had been expected.
13 Nov 2019 -
EU emissions pricing ‘poses mortgage risk’
The European Union’s plan to decarbonise building stock by taxing fossil fuels is likely to lower borrowers’ disposable income and their ability to service loans, which may increase delinquencies. However, it will drive more green covered bond and RMBS issuance, said Moody’s.
12 Nov 2019 -
All eyes on Deutsche, amid covered bond trio
Danish Ships Finance, Natixis Pfandbriefbank and Raiffeisen Bank International will keep the primary market busy with deals and roadshows this week. But the main focus will be on the size and spread that Deutsche Bank achieves for its innovative debut structured conditional pass through (CPT) covered bond that will be launched imminently.
12 Nov 2019 -
HVB tightens covered spread to OP Mortgage Bank
HVB, the German subsidiary of UniCredit, on Tuesday attracted one of the highest orders books for a €1bn covered bond from a core European bank in the last six months. It was able to tighten the pricing gap by 4bp to a competing deal issued by OP Mortgage Bank.
12 Nov 2019 -
Volksbank Wien prices flat to covered curve
The covered bond market was on strong form at the beginning of the week, with Austria’s Volksbank Wien extending its covered bond curve with its second ever trade, which it priced flat to fair value.
11 Nov 2019
