covred bonds news on GlobalCapital

Latest Covered Bonds news

  • Covered issuers pile in but investors resist tightening for Berlin Hyp

    Berlin Hyp left some new issue premium on the table for investors on Monday, while Sparebanken Vest Boligkreditt lined up a deal for Tuesday. ANZ New Zealand was also considering covered or senior unsecured issuance.

    • 19 Feb 2018
  • Santander FIG trading co-head leaves

    Santander's co-head of FIG trading has left the bank. GlobalCapital understands.

    • 19 Feb 2018
  • Berlin Hyp to extend curve with eight year

    Berlin Hyp is expected to extend its covered bond curve and open order books for an eight year mortgage-backed Pfandbrief early next week, after mandating joint leads on Friday.

    • 16 Feb 2018
  • Deutsche finds Pfandbrief solace as cold senior winds continue to swirl

    Deutsche Bank found fleeting funding consolation with a tightly priced Pfandbrief this week but, with a considerable funding requirement left to fill, the German bank is braced for a return to senior and subordinated markets where support is likely to be more flighty. Bill Thornhill reports.

    • 15 Feb 2018
  • UOB considers debut sterling covered bond

    United Overseas Bank has mandated joint leads for a covered bond roadshow in the UK with a view to potentially issuing its sterling debut. Singapore peer DBS Bank undertook a roadshow in the UK two years ago but did not follow up with a deal.

    • 15 Feb 2018
  • Jittery covered bond buyers set more conditional orders

    Covered bond investors are setting more conditions on their orders, joining order books later, and limiting tenors they will buy, anxious to avoid buying bonds that will underperform. Despite the picky investor base, Swedbank still raised a €1bn five year at a record tight spread.

    • 15 Feb 2018
  • ECB steps up secondary covered bond purchases as investors ‘park cash’ in threes

    In the absence of primary activity, the European Central Bank maintained its strong presence in the covered bond market over the last week by stepping up secondary purchases. At the same time, investors have avoided punitive negative yields by buying three year non-Eurozone bonds.

    • 14 Feb 2018
  • Deutsche Bank eschews senior volatility with tightly priced Pfandbrief

    Deutsche Bank avoided senior unsecured and subordinated bond markets, where its paper has widened considerably, to raise €500m of seven year covered bond funding on Wednesday. The bank paid virtually no new issue premium.

    • 14 Feb 2018
  • FIG issuers return to find buyers want more NIP

    Borrowers have returned to the FIG primary market, but investors are hoping for greater new issue premiums.

    • 14 Feb 2018
  • Sør Boligkreditt reopens covereds after bout of volatility

    Sparebanken Sør Boligkreditt came to the market on Tuesday with a five year covered bond, as market participants suggested that new issue premiums could start to rise.

    • 13 Feb 2018
  • Sør Boligkreditt to open books for rare five year covered bond

    Sparebanken Sør Boligkreditt has mandated joint leads for a new euro covered bond, the second five year transaction from a investment grade European issuer this year.

    • 12 Feb 2018
  • ECBC launches EeMAP public consultation

    The European Covered Bond Council (ECBC) has launched a consultation seeking market feedback on draft guidelines for a standardised European energy efficient mortgage.

    • 12 Feb 2018
  • LBBW reshuffles research team

    LBBW has promoted Thomas Meißner to be its new head of strategy. Alexandra Schadow takes over from Meißner as head of cross-asset research.

    • 09 Feb 2018
  • ECB signals CPT covered bonds’ risk with greater repo haircuts

    The European Central Bank (ECB) has effectively doubled valuation haircuts for conditional pass through (CPT) covered bonds that are retained for repo purposes. The move, which follows the bank’s decision to not buy CPTs from non-investment grade issuers for its purchase programme, signals that the central bank sees inherent risks in the structure.

    • 09 Feb 2018
  • Absence of CBPP3 tapering could spell trouble

    Even though the ECB's net asset purchases were halved to €30bn from January, the pace of covered bond buying did not change. Though the absence of a lengthy tapering period implies a greater cliff-edge effect when net purchases inevitably fall to zero, bankers were relatively sanguine on the spread outlook.

    • 08 Feb 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.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 3,250.65 16 6.35%
2 Natixis 3,234.24 13 6.32%
3 Credit Suisse 2,767.40 14 5.41%
4 UBS 2,689.30 14 5.25%
5 LBBW 2,556.50 12 5.00%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 15,874.32 53 7.03%
2 Bank of America Merrill Lynch 15,775.66 42 6.99%
3 JPMorgan 15,640.16 50 6.93%
4 Goldman Sachs 15,581.12 65 6.90%
5 Citi 13,752.30 57 6.09%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 14,508.45 57 10.75%
2 Bank of America Merrill Lynch 14,450.46 36 10.70%
3 JPMorgan 13,926.70 37 10.31%
4 Morgan Stanley 13,389.81 42 9.92%
5 Citi 12,466.23 46 9.23%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,073.07 11 9.75%
2 UniCredit 2,350.27 9 7.46%
3 SG Corporate & Investment Banking 2,239.57 9 7.11%
4 UBS 2,070.46 8 6.57%
5 Deutsche Bank 2,015.15 7 6.39%

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 UBS 2,355.83 6 25.50%
2 Credit Agricole CIB 2,031.40 2 21.99%
3 Barclays 505.57 3 5.47%
4 JPMorgan 490.48 3 5.31%
5 Bank of America Merrill Lynch 439.82 3 4.76%