Covered Bonds

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  • Covered bond issuers price flat to fair value

    Covered bond issuers price flat to fair value

    A lack of supply relative to 2019 and much more aggressive central bank buying ensured that Banco Sabadell, Royal Bank of Canada and OP Mortgage Bank were able to price covered bonds flat to fair value this week.

  • French threesome covers up

    French threesome covers up

    BPCE, Credit Mutuel Home loan (CM-CIC) and Axa Bank issued French covered bonds this week with Axa issuing its first transaction under a new and lower rated Belgian ownership structure.

  • Trio of Austrians find Pfandbrief favour

    Trio of Austrians find Pfandbrief favour

    Austrian covered bond borrowers Bawag PSK, UniCredit Bank Austria and RLB Oberösterreich found a warm reception for their €500m no-grow deals this week.

  • Pfandbriefe trio price flat to their curves

    Pfandbriefe trio price flat to their curves

    Helaba, Deutsche Bank and Deutsche Pfandbriefbank (PBB) had little trouble accessing the Pfandbrief market this week with a series of deals that were priced flat to their curves.

  • Luminor Bank steps closer to covered bond issuance with Moody’s rating

    Luminor Bank steps closer to covered bond issuance with Moody’s rating

    An Estonian covered bond could soon be due in the market after Moody’s rated Luminor Bank’s programme this week — the first to be structured under the country’s newly established law. The rating comes after the European Central Bank granted Luminor a license to issue covered bonds in December.

  • NordLB Lux mandates for first renewable energy deal, again

    NordLB Lux mandates for first renewable energy deal, again

    NordLB Luxembourg was expected to arrive in the market with its inaugural renewable energy covered bond late last year, having completed a market programme and mandated lead managers. On Thursday it finally plucked up the courage to re-announce the long-awaited deal — the first to be ever issued under the country’s new law.

  • Crédit Mutuel grabs €1.25bn as covered bond supply fears mount

    Crédit Mutuel grabs €1.25bn as covered bond supply fears mount

    Credit Mutuel Home Loan SFH (CM-CIC) completed a busy week in the euro covered bond market with a €1.25bn 10 year offering on Thursday. The deal emerged amid growing concern that euro covered bond supply will fall, as borrowers like SCBC, Danske Bank and Nordea turn to local currency markets, while others see better alternative funding opportunities, or simply bide their time.

  • Covered bond investors putting on the risk

    Covered bond investors putting on the risk

    Covered bond investors are increasingly confident about taking on duration and credit risk as yields are set to be stable and spreads should remain well supported, an asset manager told GlobalCapital on Wednesday.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $bn No of issues Share %
1 2.04 12 6.68%
2 2.01 9 6.59%
3 1.72 6 5.63%
4 1.53 6 5.00%
5 1.52 6 4.97%
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BondMarker: Covered Bonds

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