Latest Covered Bonds news

• Moody’s flags no deal Brexit risk for covered bonds

  

  If the UK were to crash out of the EU without securing a deal it would throw up a host of legal and regulatory risks for UK and European covered bonds and put a dampener on otherwise supportive market conditions, Moody’s said in a report published this week.

  • 11 Dec 2018

• Covered bond issuers expected to make nervous start in 2019

  

  DCM bankers believe that financial institutions will be wary about jumping straight into the covered bond market in January, after a tricky end to the year for the asset class.

  • 10 Dec 2018

• Kookmin issues first covered in two years

  

  Kookmin Bank has issued the second Korean covered bond of this year but the first in dollars and its first in more than two years.

  • 07 Dec 2018

• Wider is welcome for covered bond buyers

  

  Covered bond spreads are likely to widen further into the start of 2019, but that will serve to make them more attractive to investors, especially relative to sovereign and agency alternatives. And since investors will have a slew of cash to put to work, it seems likely it will encourage buying.

  • 06 Dec 2018

• TLTRO could upset French covered supply expectations

  

  Net covered bond supply from France is likely to fall in 2019, which should support spreads. However, French banks were among the most active users of the the European Central Bank's Targeted Longer Term Refinancing Operations (TLTRO), which, as it starts to mature, will need to be refinanced - and the covered bond market could be poised to provide some of that funding.

  • 05 Dec 2018

• Germany to lead 2019 covered bond supply

  

  Germany will head covered bond supply in 2019 with high redemptions and a booming housing market set to fuel volumes.

  • 05 Dec 2018

• Unwinding TLTRO debt 'will raise funding costs'

  

  Repaying funding received under the European Central Bank’s targeted longer-term refinancing operations (TLTROs) is likely to raise funding costs but, as most Iberian banks have made plans, refinancing risks are limited, according to Moody’s.

  • 04 Dec 2018

• Dhami returns to market as Rabo syndicate boss

  Harman Dhami has joined Rabobank as head of DCM syndicate, succeeding Paul Vanner, who, after a sabbatical, will return to Rabo to further develop the bank's MTN platform.

  • 03 Dec 2018

• Ziraat plans to issue covered bonds

  

  Turkey’s Ziraat Bank is planning to issue covered bonds and has published a base prospectus for its €1bn programme. However, it is questionable whether a euro benchmark from the issuer will be seen any time soon.

  • 03 Dec 2018

• Energy-efficient mortgage definition to ensure 'quick roll-out'

  

  The European Mortgage Federation-European Covered Bond Council (EMF-ECBC) has set out a definition of an energy-efficient mortgage which should enable ‘a quick roll-out’, according to the European Commission.

  • 03 Dec 2018

• Focus on green covered additionality, says Pimco’s Boehm

  

  Green covered bond issuers should make sure to bring 'additionality', according to Timo Boehm, portfolio manager at Pimco. He also indicated that these deals did not deserve favourable pricing treatment.

  • 03 Dec 2018

• Santander issues first Brazilian covered bond

  

  Santander Brasil has tested the country’s Letra Imobiliária Garantida (LIGs) covered bond regime with two privately placed deals.

  • 30 Nov 2018

• Nykredit's covered shows ECB's lighter hand

  

  Nykredit returned to the euro covered bond market on Thursday to issue its second floating rate transaction. The oversubscription rate was similar to other recent deals, but well below that for its debut deal, when market conditions were much stronger.

  • 29 Nov 2018

• Chinese banks looking at Lux green covered bonds

  

  Chinese and French banks may take advantage of a new Luxembourg green covered bond law, where the cover assets are linked to renewable energy, according to an official at the Luxembourg Stock Exchange (LuxSE).

  • 29 Nov 2018

• Don't soil our covered bonds, warn speakers

  

  As the EU Covered Bonds Directive nears the finish line, speakers at the Covered Bonds Market conference held by the Association for Financial Markets in Europe (Afme) and the Association of German Pfandbrief Banks (VDP) have voiced concern about the quality of the product being diluted.

  • 29 Nov 2018

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