Covered Bonds

Latest News

  • Traders cut covered bond inventory and anticipate slender premiums next year

    Traders cut covered bond inventory and anticipate slender premiums next year

    Covered bond traders are paring back inventory as they approach the end of the year, though there are a few sectors of the market where they intend to hold positions. High redemptions in the first half of the year will support spreads but January’s issuance glut may not see a rise in new issue premiums.

  • Apac covered bond supply hopes boosted

    Apac covered bond supply hopes boosted

    The outlook for Asian covered bond supply will have improved slightly in the wake of Tuesday’s deal from United Overseas Bank, particularly among Singaporean lenders. But issuance from Australia and New Zealand is expected to be more limited, reflecting their banks' priority to get ahead with regulatory funding.

  • Hungary euro covered bond issuance set for revival

    Hungary euro covered bond issuance set for revival

    After a decade of slumber, the market for euro-denominated Hungarian covered bonds could be poised to reopen. Hungary covered bonds may have a low country ceiling credit rating but the market is well protected and could offer positive yields.

  • UOB breaks several covered bond records

    UOB breaks several covered bond records

    United Overseas Bank revitalised the moribund Singaporean covered bond market on Tuesday with the first euro deal in two years and the largest from a Singaporean issuer. The bonds attracted record demand and were priced inside UOB’s curve, showing the extraordinarily receptive state of the market.

  • Brexit deal to send UK covered bonds tighter

    Brexit deal to send UK covered bonds tighter

    As the UK approaches the end of its Brexit transition period there are growing expectations that a trade deal will be struck with the EU. It is hoped that that will contribute to the factors driving spreads tighter on UK covered bonds.

  • UOB to issue first Singapore covered bond in two years

    UOB to issue first Singapore covered bond in two years

    United Overseas Bank has mandated leads for the first euro covered bond benchmark from a Singapore lender since September 2018. The deal takes advantage of the Monetary Authority of Singapore’s (MAS) recent decision to increase covered bond issuance capacity.

  • Dutch banks warm to soft bullet covered bonds

    Dutch banks warm to soft bullet covered bonds

    Dutch issuers are warming towards soft bullet covered bonds, with several having already launched deals with the structure this year, as part of a move away from conditional pass through (CPT) issuance.

  • Voracious ECB to keep gobbling covered bonds

    Voracious ECB to keep gobbling covered bonds

    Limited supply prospects next year suggest that relentless purchases under the European Central Bank’s Covered Bond Purchase Programme (CBPP3) will continue to exert a strong influence on yields, squeezing more real money investors out of the market, even though its gross purchases may decline.

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THE EUROMONEY ECBC VIRTUAL COVERED BOND CONGRESS 2020

  • Covered bond conference 

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  • On September 9-10, 2020 Euromoney and the ECBC hosted the eighteenth annual meeting for the international covered bond market, virtually.

  • Key figures:

    • 3,030 hours spent on the platform
    • An average 4.30 hours spent on the platform by each delegate
    • 740 unique visitors from 40 countries
    • 35,000 visits to the platform

    To find out more and watch the sessions, click here 

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Roundtable

  • Covered bonds through Covid: the French issuers’ perspective

    Funding officials from Caffil, Credit Mutuel Arkéa and La Banque Postale gathered in early July to take part in a roundtable to discuss how they navigated their way through the peak of the crisis when covered bond market volatility was at its highest, and how they expect to manage funding in its aftermath, as the pernicious impact of the pandemic takes its toll.