Covered Bonds

Latest News

  • Covered bonds to lead FIG tighter

    Covered bonds to lead FIG tighter

    Although the European Central Bank (ECB) hasn’t said yet how it intends to split buying across the €20bn of net asset purchases that it plans on making each month, it is likely covered bonds will form an integral part. And if covered bonds tighten, that probably means much else will be dragged along for the ride.

  • ECB breathes life into FIG as investors prepare for infinite QE

    ECB breathes life into FIG as investors prepare for infinite QE

    Investors bid a warm welcome to a heap of new bonds from financial institutions this week, spurred on by the knowledge that the European Central Bank would soon be back as one of the biggest buyers in the market. Bill Thornhill and Tyler Davies report.

  • Pfandbrief duo enjoy solid investor response

    Pfandbrief duo enjoy solid investor response

    German Pfandbrief issuers DZ Hyp and Landesbank Hessen-Thüringen Girozentrale (Helaba) enjoyed strong receptions for their €1bn Pfandbriefe issued this week. Bankers suggested that the German market had a good chance to perform.

  • UK trio pounce on euro covered bonds

    Lloyds Bank, Virgin Money and Skipton Building Society took advantage of an improvement in market conditions since the European Central Bank’s policy meeting, and the UK Parliament’s efforts to legislate against leaving Europe without a deal, to issue a string of successful covered bonds this week.

  • Investors swoop on Helaba as spreads set to tighten

    Investors swoop on Helaba as spreads set to tighten

    The order book for Landesbank Hessen-Thueringen Girozentrale’s (Helaba) €1bn 10 year public sector backed Pfandbrief was quick to build reflecting the view that the bonds were priced cheaply and that spreads will almost certainly tighten, said bankers.

  • Healthy dollar demand propels covered bonds from RBC and FCDQ

    Healthy dollar demand propels covered bonds from RBC and FCDQ

    Two Canadian issuers revitalised the dollar covered bond market this week as Royal Bank of Canada raised €1.5bn of three year funding on Tuesday at half the cost of its senior funding and at a substantially lower cost than a year ago. The transaction was followed by Fédération des caisses Desjardins du Québec (FCDQ) which opened order books for another three year on Thursday.

  • Liberbank debut covered bond draws double the demand of Skipton

    Liberbank debut covered bond draws double the demand of Skipton

    Liberbank’s inaugural covered bond issued on Wednesday showed that investors are still hungry for paper that offers a positive yield and good relative value. The Spanish deal drew more than twice as much demand as Skipton Building Society’s competing negative yielding transaction, which was the third UK covered bond issued this week.

More Stories



Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
1 11,694.44 97 6.03%
2 11,111.48 60 5.73%
3 9,011.90 53 4.65%
4 8,078.41 47 4.16%
5 7,644.64 40 3.94%
Score now

BondMarker: Covered Bonds

What do you make of the latest deals?