Latest Covered Bonds news

• Superb covered bond deserve your vote

  

  Please cast your confidential vote for all or any of the last nine euro covered bond benchmarks issued last week and before - including those issued by Banco BPI, Credit Agricole Italia, Nordea, BPER Banca and Stadshypotek.

  • 06:30 PM

• Skipton sets eyes on Sonia first

  

  Skipton Building Society has mandated leads for its first Sonia-linked covered bond. The issuer follows National Westminster Bank and takes advantage of an improvement in sentiment that followed a UK Parliament vote last week.

  • 04:00 PM

• VUB issues first Slovakian covered bond benchmark

  

  Slovak Vseobecna uverova banka (VUB) attracted a €2.5bn orderbook from 160 mostly new investors on Tuesday for its first benchmark covered bond and the debut benchmark from Slovakia. The deal sends a strong signal to other borrowers in the country, where several banks are understood to be lining up, and shows that the covered bond market is open and ready for their business.

  • 12:45 PM

• UK trio hit covered bonds as Brexit woes recede

  

  Lloyds Bank and National Westminster Bank issued exceptionally well subscribed covered bonds respectively in euros and sterling on Monday as Virgin Money announced roadshow plans for its debut deal. The three borrowers took advantage of the UK Parliamentary vote to avert a ‘no deal’ Brexit.

  • 18 Mar 2019

• VUB to issue Slovakia’s first covered bond benchmark

  

  After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.

  • 18 Mar 2019

• Covereds ‘on fire’ as investors lap up peripheral deals

  

  Crédit Agricole Italia took 50% more covered bond funding than it had expected on Friday after being swamped with demand for a new eight year deal, while Banco BPI reopened the Portuguese covered bond market with a €500m transaction that received seven times as much interest from investors.

  • 15 Mar 2019

• BPI to reopen Portuguese covered bonds

  

  Banco BPI mandated lead managers for a five year Portuguese covered bond on Thursday — the first from the country since October 2017. The announcement suggests borrowers have a good reason to hit the market even though they will be able to fund more cheaply by tapping the European Central Bank.

  • 14 Mar 2019

• MAS to consider covered bond repo eligibility

  

  The Monetary Authority of Singapore (MAS) is considering making covered bonds eligible for repo, but Singapore dollar issuance would probably be needed, delegates at the Euromoney/ECBC Asian Covered Bond Forum heard this week. Domestic currency issuance would improve the resilience of Singapore’s banking system and potentially encourage other banks to set up programmes.

  • 14 Mar 2019

• UniCredit extends covered curve at tighter spread

  

  UniCredit Bank Austria returned to the covered bond market for the second time this year on Wednesday extending its curve with a a new 10 year deal.

  • 13 Mar 2019

• NIBC lands eight year amid CPT crackdown

  

  NIBC Bank paid a handful of basis points of new issue premium to launch a new conditional pass through covered bond on Tuesday, despite having taken a tougher route to the market by targeting a maturity at the longer end of the curve.

  • 12 Mar 2019

• UK issuers eschew euro covered bonds, despite a firmer bid

  

  UK covered bonds have begun to perform in the secondary market, with investors spying opportunities to pick-up good relative value and sound fundamental protection. But UK issuers have been notable for their absence in euros this year due to continuing uncertainty around the outcome of Brexit.

  • 12 Mar 2019

• Nordea issues tightest non-German covered of 2019

  

  Nordea managed to raise €1.5bn of seven year funding at 4bp over mid-swaps on Monday — the tightest spread of any covered bond issued this year, other than in Germany. But subscription ratios for core covered bonds are falling and some key investors are lowering their orders.

  • 11 Mar 2019

• BPER increases 'no-grow' covered bond

  

  BPER Banca issued an exceptionally well subscribed Italian covered bond and, although it originally planned to issue a €500m no-grow, it took the unusual step of increasing the deal size to €600m "as a token gesture on behalf of the leads".

  • 11 Mar 2019

• Introducing the Covered BondMarker league table builder

  

  GlobalCapital's interactive Covered BondMarker League Table Builder for covered bonds provides an up-to-date ranking of banks that have worked on the highest quality deals and you don't need to be a subscriber to use it.

  • 08 Mar 2019

• Draghi boosts credit bulls with fresh TLTRO

  

  European financial institution bond markets have been rallying this year as economic weakness raised expectations of renewed European Central Bank easing action. On Thursday, it delivered a new round of bank refinancing loans — sooner than thought, but reassuring nevertheless — presaging another move tighter in southern European credit. Bill Thornhill and Tyler Davies report.

  • 07 Mar 2019

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