Latest Covered Bonds news

• Credit Suisse issues debut Swiss franc covered bond as Nationwide lines up

  

  Credit Suisse Switzerland issued the debut covered bond from its newly structured programme on Wednesday, achieving a very solid outcome in a short time frame. The Swiss franc-denominated covered bond will be followed on Thursday by another from the UK’s Nationwide Building Society.

  • 26 Jun 2019

• Latest covered bonds can now be voted on

  

  Please take a couple of minutes to cast your confidential vote for the latest euro covdred bond benchmarks including those issued recently by SMBC, Nordea, KHFC and Rabobank

  • 26 Jun 2019

• Helaba issues first negative yielding covered bond since 2017

  

  Landesbank Hessen-Thueringen Girozentrale (Helaba) sold the first negative yielding covered bond since 2017 on Wednesday, attracting good demand for the €750m five year Pfandbrief.

  • 26 Jun 2019

• Trio keeps covereds active as UniCredit debuts in dollars

  

  UniCredit AG was poised to issue its first dollar Pfandbrief on Tuesday, shortly after Dekabank had quickly wrapped up a sub-benchmark eight year. The two deals followed an inaugural sub-benchmark seven year from Slovakia’s Tatra Banka that was priced on Monday.

  • 25 Jun 2019

• UniCredit AG to issue first dollar Pfandbrief

  

  UniCredit’s German subsidiary, HVB, has mandated leads for the first dollar covered bond in its 150 year history reflecting a preference to avoid issuing a negative yielding euro benchmark.

  • 24 Jun 2019

• Credit Suisse returns to covered bonds

  

  Credit Suisse has published a base prospectus for its newly set up covered bond programme, suggesting it may be ready to make a formal deal announcement in the next few days.

  • 24 Jun 2019

• Mediobanca OBG flies as covered bond yields plunge

  

  Mediobanca attracted strong demand on Monday for a long seven year Obbligazioni Bancarie Garantite (OBG), which offered an eye-catching yield despite pricing well through BTPs. The deal emerged as the short end of the covered bond curve plunged deeper into negative yielding territory.

  • 24 Jun 2019

• AXA preps debut euro covered bond

  

  AXA Banque has mandated lead managers for a roadshow starting on Thursday as it looks to sell its first covered bond in euros.

  • 20 Jun 2019

• FIG bankers spy golden window for second tier names

  

  DCM bankers say that market conditions are just right for some of Europe’s smaller and more marginalised financial institutions to bring new bond deals ahead of the summer.

  • 20 Jun 2019

• Covered bond market braces for negative yielding new issues

  

  Participants in the covered bond market believe that it is only a matter of time before issuers set out to price new deals at negative yields, casting minds back to ground breaking transactions from Berlin Hyp in 2016 and 2017.

  • 19 Jun 2019

• Markets welcome EU Sustainable Finance announcements

  

  Four major announcements have been made today by the European Commission and its Technical Expert Group, which is drafting the substance of several parts of its multi-faceted Sustainable Finance Action Plan. There were new texts on the Taxonomy, Green Bond Standard and Low Carbon Benchmarks regulations as well as guidelines for companies on how to report climate change-related information. Many market participants welcomed them.

  • 18 Jun 2019

• Covered bond market hits pause after bumper week

  

  Banks have taken a breather from issuing covered bonds in euros after a bumper week for issuance last week, but analysts suggest there is still plenty of interest among investors for further supply in the asset class.

  • 18 Jun 2019

• TD takes £1bn 'at pace' with Canada’s first Sonia-linked covered bond

  

  Toronto Dominion Bank has become only the second borrower from outside of the UK to sell a Sonia-linked covered bond, having quickly met enough orders on Monday to launch a £1bn offering in the sterling market.

  • 17 Jun 2019

• Party over for covered issuers as RBC sheds orders

  

  Royal Bank of Canada’s €1.25bn seven year issued on Wednesday dropped more orders than any covered bond has in years, ending up as one of the least subscribed deals of its size since 2011. The transaction starkly illustrated that the balance of power has shifted in favour of investors and offered a salutary lesson for ambitious issuers, writes Bill Thornhill.

  • 13 Jun 2019

• BMO reopens dollar covered bonds

  

  Bank of Montreal (BMO) has issued the first Canadian covered bond in dollars this year, raising $1.75bn of funding at a cost that was equivalent to what it would have theoretically paid in the euro market. National Bank of Canada was quick to follow, announcing a similar deal at the same starting spread.

  • 13 Jun 2019

Covered Bonds news archive