Latest Covered Bonds news

  • Covered bond investors sensitive on price as market softens

    Two €500m deals issued by Commerzbank and ASB Finance went well enough, though the fact neither of the issuers were able to tighten pricing by much underscored the impression that market sentiment has deteriorated slightly.

    • 01:45 PM
  • Crédit Ag’ finds favour in fours and 20s

    Crédit Agricole attracted strong demand for its four and 20 year two part covered bond on Friday, partly reflecting the prudent choice of tenors.

    • 21 Sep 2018
  • Introducing the Covered Bond Marker

    The Covered Bond Marker is a confidential survey designed to show what the market really thinks about the latest covered bond deals. Market participants are cordially invited to mark a range of recently priced euro benchmarks.

    • 21 Sep 2018
  • Credem hits covered bond road after long gap

    Credito Emiliano (Credem) is planning a series of fixed-income investor meetings from October 1 to reintroduce its soft bullet covered bond programme.

    • 20 Sep 2018
  • PBB scales up in sterling covered bonds

    Deutsche Pfandbriefbank (PBB) this week attracted greater demand than Aareal Bank for its December 2021 sterling Pfandbrief, even though it was priced at the same spread and had a lower credit rating. Both deals had a lot of German demand reflecting a sterling’s pick-up to euros.

    • 20 Sep 2018
  • ING Belgium enjoys exceptional covered bond bid

    ING Belgium's order book for a €1bn eight year issued on Thursday was larger than any for a covered bond of this size since January. The exceptionally strong bid is something that other issuers will look to take advantage of before Eurosystem purchases are scaled back again.

    • 20 Sep 2018
  • Covered bond traders positive on outlook despite ECB taper

    Even though it’s likely the European Central Bank will lower purchases of covered bonds before long and despite a relatively busy pipeline, dealers are sanguine about the outlook for spreads.

    • 19 Sep 2018
  • Covered bond awards 2018 photos

    GlobalCapital’s 12th annual covered bond awards took place this year at BMW Welt in Munich on Thursday, September 13. The awards reflected the judgment of almost 400 market participants, including 170 investors, who reported buying €100bn of covered bonds in the past 12 months and with over €600bn in covered bond assets under management.

    • 19 Sep 2018
  • NN Bank unearths good covered bond demand for 10 year

    Nationale-Nederlanden Bank (NN Bank) returned to the covered bond market for the second time this year to issue a comfortably oversubscribed €500m 10 year conditional pass through structure that was priced 1bp tighter than where NIBC Bank issued a similar deal two weeks ago.

    • 18 Sep 2018
  • Helaba just gets over the Pfandbrief line

    Landesbank Hessen-Thüringen Girozentrale (Helaba) attracted a thinly oversubscribed order book for a €1bn seven year mortgage Pfandbrief issued on Tuesday. Even though the bonds offered a generous premium to their own curve, they were priced much tighter than other recent seven year benchmarks.

    • 18 Sep 2018
  • Additional currencies to HTT hints at covered bond growth potential

    The European Covered Bond Council (ECBC) has updated and enhanced its Harmonised Transparency Template (HTT). The addition of two new currencies implies scope for more covered bond issuers, potentially from a new jurisdiction.

    • 18 Sep 2018
  • Covered Bond Awards 2018: voting distribution

    The distribution of the votes for the 2018 Covered Bond Awards.

    • 18 Sep 2018
  • ECBC flags ‘critical’ areas for covered directive

    The European Mortgage Federation — European Covered Bond Council (EMF-ECBC) has reached consensus on four critical areas of concern in response to a draft report from the European Parliament’s Economic & Monetary Affairs Committee (ECON) on the European Commission’s proposals for a covered bond legislative framework.

    • 17 Sep 2018
  • Moody's hails Lloyds' Sonia deal as 'essential' for markets

    Moody's has praised Lloyds Bank’s first sterling Sonia-linked covered bond for being an "essential" development that will help to create a market for similar deals and limit disruption from the move away from Libor.

    • 17 Sep 2018
  • NN Bank mandates as Aareal issues in sterling

    Nationale Nederlanden Bank has mandated leads for a 10 year euro denominated conditional pass through (CPT) covered bond and Aareal Bank has issued a fixed rate sterling Pfandbrief.

    • 17 Sep 2018

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  • It’s a nexus, not a doom loop

    The sovereign credit crisis spurred lawmakers to undertake a number of major initiatives designed to sever the ‘doom loop’ — the link between sovereign and bank credit risk. Recent events in Italy and Turkey show the limits of these policies, but not their impotence.

    • 16 Aug 2018

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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

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Covered Bonds League Table Builder

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 10,838.70 62 5.34%
2 LBBW 10,110.44 66 4.98%
3 UniCredit 10,041.71 74 4.95%
4 Natixis 9,776.52 51 4.82%
5 Commerzbank Group 9,317.67 57 4.59%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,275.20 309 6.41%
2 Bank of America Merrill Lynch 71,790.46 266 6.20%
3 Citi 70,388.25 351 6.08%
4 Goldman Sachs 66,011.45 527 5.70%
5 HSBC 61,730.67 280 5.33%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 60,985.86 215 10.98%
2 Bank of America Merrill Lynch 59,969.47 219 10.80%
3 Citi 55,716.51 263 10.03%
4 Goldman Sachs 49,875.99 465 8.98%
5 Morgan Stanley 46,382.96 258 8.35%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,282.04 27 7.38%
2 Commerzbank Group 5,647.34 22 5.73%
3 LBBW 5,565.43 23 5.64%
4 SG Corporate & Investment Banking 5,470.19 24 5.55%
5 UniCredit 5,468.87 22 5.55%

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 HSBC 7,022.22 19 12.72%
2 Barclays 4,410.61 16 7.99%
3 Credit Suisse 4,278.10 14 7.75%
4 BNP Paribas 3,808.41 16 6.90%
5 UBS 3,802.05 17 6.89%