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GC Asia
Latest News
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Fitch downgrades Montepio covereds amid poor mortgage outlook
Fitch has downgraded its covered bond ratings for Banco Montepio amid a deterioration in the outlook for residential mortgage loans in Portugal, exacerbated by the impact of the coronavirus pandemic.
03 Jul 2020 -
Skipton looks to switch Libor for Sonia in covereds
Skipton Building Society is looking for approval from investors to convert the interest basis on one of its covered bonds from Libor to Sonia.
02 Jul 2020 -
Issuers turn to sustainable covereds amid uncertainty
Syndicate bankers are scrambling to make sense of the covered bond market, where sentiment has been changeable in recent weeks. Amid volatility and small issuance windows, sustainable bonds have proven a safe strategy to ensure successful deals.
02 Jul 2020 -
No NIP for Sparebanken Vest on green debut in covereds
Sparebanken Vest Boligkreditt did not need to offer any premium to investors to complete its debut sale of green covered bonds on Wednesday. The deal adds to a recent flurry of socially responsible investments, which are offering financial issuers very competitive terms.
01 Jul 2020 -
Berlin Hyp generates green momentum in covereds
Berlin Hyp left ‘a little bit on the table’ with its new green covered bond on Tuesday. The trade was followed by deal announcements from Kookmin Bank and Sparebank Vest Boligkreditt, both looking to issue in sustainable format.
30 Jun 2020 -
NN Bank builds strong demand behind soft bullet debut
NN Bank used a quiet market this week to launch the first deal from its new soft bullet covered bond programme. The inaugural deal carried an ‘attractive’ spread and was more than three times subscribed at final terms.
30 Jun 2020 -
KHFC offers spread with social covered bond
Korean Housing Finance Corporation (KHFC) has launched its second social covered bond of the year in euros, setting the spread for its deal in the middle of its guidance range.
29 Jun 2020 -
Pipeline fills up in covereds
NN Bank unveiled plans on Monday to issue its first covered bond from its newly published soft-bullet programme. At the same time, Berlin Hyp has mandated lead managers for the sale of a new green covered bond.
29 Jun 2020 -
Helaba raids NordLB for two more new hires
Two more bankers have ditched NordLB to take on DCM roles at Helaba, as the firm looks to expand its covered bond business.
29 Jun 2020 -
TLTRO III deters covered bond issuance even beyond its three year maturity
Issuers are struggling to obtain the necessary internal approvals to issue covered bonds, given how expensive the instruments are compared to the European Central Bank's Targeted Longer Term Refinancing Operations (TLTRO III).
26 Jun 2020
