Covered Bonds

Latest News

  • DNB prices flat to covered curve with Spabol to follow

    DNB prices flat to covered curve with Spabol to follow

    DNB Boligkreditt issued a €1bn seven year covered bond at flat to fair value with strong demand on Wednesday, providing encouragement for Sparebank 1 Boligkreddit (Spabol) which mandated leads for a follow-on 10 year Norwegian covered bond.

  • Nationwide: 20 year covered 'made sense on both sides'

    Nationwide: 20 year covered 'made sense on both sides'

    Nationwide Building Society made a small piece of history in the covered bond market last week. The UK building society printed the first covered deal in euros from a UK bank since Brexit. It was also the issuer's first 20 year and the first covered bond in that maturity from anywhere outside the eurozone. Senior funding manager, Krishan Hirani, spoke to GlobalCapital about the genesis of the deal.

  • Pfandbrief market takes crisis and regulation in its stride

    Pfandbrief market takes crisis and regulation in its stride

    The Pfandbrief market is in the middle of a tumultuous year which includes not only the adoption of the EU's Covered Bond Directive but also digesting the bloc's Taxonomy for Sustainable Activities. Of course, this is all happening against the backdrop of the coronavirus pandemic and lockdowns, which have hit the commercial real estate market that underpins much of the product. Jens Tolckmitt, chief executive of the Association of German Pfandbriefbanks (vdp), spoke to GlobalCapital about how the market has coped.

  • PMM: Covered bond issuers take advantage

    PMM: Covered bond issuers take advantage

    Recent trades have demonstrated just how sublime primary market conditions are for covered bond issuers, stoking a revival of the previously dormant sector.

  • DNB set for covered bond return

    DNB set for covered bond return

    DNB Boligkreditt took advantage of strong market conditions to mandate leads for its second covered bond of the year on Tuesday.

  • Bawag bags stellar covered response as law enters final stage

    Bawag bags stellar covered response as law enters final stage

    Bawag became the first Austrian issuer to price a covered bond through mid-swaps since June 2018 on Tuesday when it issued a benchmark 10 year that attracted strong initial order momentum and an exceptionally granular order book. At the same time Austria’s Covered Bond Act consultation came to an end, suggesting the new legal framework will soon be enacted.

  • Kommunalkredit to kick off busy week for FIG

    Kommunalkredit to kick off busy week for FIG

    Kommunalkredit was the first name to throw its hat into what bankers are expecting could be a busy week in FIG primary markets next week. The Austrian lender is set to syndicate its senior deal as a private company next week, with a covered bond refinancing set to follow later this year.

  • Ignorance is bliss

    Ignorance is bliss

    “What gets measured gets managed,” goes an old saw popular in sustainable finance circles. If companies, investors and banks, the argument says, collect better environmental and social data, this knowledge will naturally breed improvements in performance.

  • Nationwide brings trailblazing 20 year covered

    Nationwide brings trailblazing 20 year covered

    Nationwide Building Society issued the first UK covered bond of the year, the first to test appetite since Brexit was concluded and the first UK deal with a 20 year tenor in euros. As such it offered a particularly rare opportunity to get some spread and yield pick-up.

  • BayernLB and MuHyp set spread records

    BayernLB and MuHyp set spread records

    Muenchener Hypothekenbank (MuHyp) priced the tightest ultra-long dated Pfandbrief in 18 years this week, setting the record a day after Bayerische Landesbank (BayernLB) priced the tightest covered bond of the year and the tightest Pfandbrief since late 2018.

  • Laurentian seeks 'peculiar' covered and capital funding double

    Laurentian seeks 'peculiar' covered and capital funding double

    Laurentian Bank has wasted little time getting its newly set up covered bond programme a top rating with DBRS and is now undertaking a roadshow with plans to sell its first deal in Canadian dollars. It is also looking at subordinated issuance in local currency.

  • PMM: Covered bond issuers make most of higher yields

    PMM: Covered bond issuers make most of higher yields

    French and German banks have led the resurrection of the primary covered bond market over the last two weeks, with the sterling market particularly active. They have been making the most of good conditions for borrowers. So far this year, covered bond issuers have paid an average concession of 0.15bp compared to the 2.93bp they paid in 2020.

  • MuHyp prices Pfandbrief at tightest spread in 18 years

    MuHyp prices Pfandbrief at tightest spread in 18 years

    Muenchener Hypothekenbank (MuHyp) issued its second ultra-long dated Pfandbrief of the year on Tuesday, flat to the curve and into good demand at the tightest spread for this tenor and longer in the past 18 years.

  • Investors flock to super-rare Nationwide 20 year

    Investors flock to super-rare Nationwide 20 year

    Investors wasted little time placing orders for Nationwide Building Society’s 20 year covered bond on Tuesday, reflecting the rare and chunky yield on offer and the expectation that this could potentially be their only chance to buy UK covered bonds in euros this year.

More Stories

   



THE EUROMONEY ECBC VIRTUAL COVERED BOND CONGRESS 2020

  • Covered bond conference 

  •  

  • 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 

  •