Latest Covered Bonds news

  • Covered Bond Awards 2019 poll closes today

    The Covered Bond Awards 2019 poll closes today and with only a few votes splitting the top contenders for several award categories, its not too late to make a difference.

    • 16 Aug 2019
  • Swiss Pfandbrief go negative out to 30 years

    Yields continued to tumble in the Swiss franc bond market this week with Pfandbriefbank issuing the first 30 year covered bond to be sold with a negative yield, following Münchener Hypothekenbank (MünHyp) striking a new record low for covered bond yields with a nine year trade.

    • 15 Aug 2019
  • Polish mortgage law has ‘significant adverse effects’

    A draft Polish law, requiring the written consent of property owners to transfer mortgages, would have “significant adverse effects on Polish banks’ funding” said the European Central Bank, with respect to the covered bond and securitization markets. However, a legal expert said there would be no direct impact on covered bonds.

    • 15 Aug 2019
  • SparVest brings 'sophisticated' green framework

    Sparebanken Vest (SparVest) on Thursday became the fourth Norwegian bank to publish a green bond framework and one of the first to publish a framework that is aligned with the European Union’s proposed standards for green bonds.

    • 15 Aug 2019
  • Slow covered bond restart expected

    Covered bond issuers are circling the market looking to print come September. But this year the usual autumnal restart could be delayed until after the European Central Bank meeting on the 12th.

    • 14 Aug 2019
  • Sonia covereds hold in as ‘perfect storm’ nears

    UK Sonia-linked covered bonds were trading stably on Tuesday, in contrast to euro denominated UK covered bonds which have been marked wider amid rising expectations the UK will crash out of the European Union. But, with macro-economic risks abounding, the global picture is disturbing bankers.

    • 13 Aug 2019
  • FIG issuers fear slow start to post-summer activity

    Participants in the financial institutions bond market had expected that issuers could hit screens with new transactions as early as this week, but so far macroeconomic and political uncertainty has discouraged them from putting investor appetite to the test this summer.

    • 13 Aug 2019
  • Positive outlook bodes well for Portuguese covered bonds

    A ratings boost for Portugal could alert the country's covered bond issuers to the chance to print more, with the asset class at historically tight spreads.

    • 12 Aug 2019
  • MünchenerHyp adds green CP

    Münchener Hypothekenbank (MunHyp) is introducing commercial paper to its existing Ecological ESG Pfandbrief programme.

    • 12 Aug 2019
  • Wave of negative yielding covered bond supply predicted

    Covered bond supply is expected to improve from the final week of August, and with more than 90% of the market now trading with a negative yield, a sustained wave of negative yielding issuance is now unavoidable.

    • 09 Aug 2019
  • LCR investor: no fear of negative yields

    A senior bank investor buying for his firm’s liquidity coverage ratio (LCR) portfolio told GlobalCapital on Thursday that he does not fear negative yielding covered bonds. What he fears is a glut of long dated issuance that he cannot buy. But issuers remain unwilling to bring serious size with a negative yield.

    • 08 Aug 2019
  • ‘Asymmetric' risk builds in covered bonds

    Yields have fallen so steeply and spreads have tightened so much in the covered bond market that the distribution of risk has become even more ‘asymmetric’ said a major asset manager, who feared bank treasury accounts would become less inclined to buy now that 10 year covered bond yields are negative.

    • 07 Aug 2019
  • Regulatory changes cultivate conditions for Korean covereds

    Korea’s Financial Conduct Authority has supported the covered bond market this year with a series of new measures that aim to stimulate demand and supply. Its actions should promote local currency issuance, building on this year’s strong start.

    • 06 Aug 2019
  • Trio of banks vie for Covered Bond Issuer of the Year

    There are only eleven votes between the top three contenders for GlobalCapital’s 2019 Covered Bond Issuer of the Year award: Lloyds, Toronto Dominion and Royal Bank of Canada. These banks have issued a number notable covered bonds in euros, dollars and sterling, which are summarised in the following article.

    • 05 Aug 2019
  • Covered Bond Awards 2019 survey closes in two weeks

    The survey for GlobalCapital's Covered Bond Awards 2019 is due to close on January 16. You don't need to be a subscriber to vote.

    • 02 Aug 2019

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Capital markets data from GlobalCapital

Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and FIG priced deals database.

This now includes all the data from TheCover

Covered Bonds Priced Deals database

Covered Bonds pipeline 

Covered Bonds League Table Builder

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,283.03 88 5.81%
2 HSBC 10,220.20 53 5.78%
3 LBBW 8,393.04 48 4.74%
4 Natixis 7,239.94 37 4.09%
5 Barclays 7,218.44 37 4.08%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 59,952.99 273 6.02%
2 JPMorgan 58,540.64 307 5.88%
3 Citi 54,631.10 308 5.49%
4 Morgan Stanley 46,055.63 247 4.63%
5 Goldman Sachs 40,887.95 358 4.11%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 49,144.70 229 11.28%
2 JPMorgan 47,098.24 238 10.81%
3 Citi 43,129.12 240 9.90%
4 Morgan Stanley 35,486.82 174 8.14%
5 Goldman Sachs 31,020.38 303 7.12%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,170.54 15 13.55%
2 UBS 4,233.38 20 9.30%
3 BNP Paribas 3,880.04 17 8.52%
4 Credit Agricole CIB 3,549.81 11 7.80%
5 Credit Suisse 2,989.22 12 6.57%