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Asset class is about 5bp wider than at start of the year
New changes will allow for 'more intuitive' analysis and increase maximum covered bond rating uplift
Green bonds' share of total FIG euro issuance is higher than in the previous three years
Data
Sub-sections
Sub-sections
Deal reviews
◆ Second public sterling covered bond secured against BTL mortgages ◆ Spread gap compressed versus prime covered bond peers ◆ Small premium paid
British bank picks four leads to run its second public sterling BTL mortgage covered bond
◆ Canadian issuer tightened spread by 2bp ◆ Bank's seventh tranche of covereds of 2026 ◆ BMO has placed dollar euro and sterling covereds since January
◆ First covered bond of 12 years or longer since the bank issued in January ◆ Banker ‘positively surprised’ with size ◆ Premium paid
Opinion
Covered bond issuers have been reluctant to issue on the same day as a central bank announcement, but this is starting to change
The new European Secured Note market is keen to secure regulatory recognition for the new product but there are advantages to not having it
If it looks like a covered bond, acts like a covered bond and prices like a covered bond, then it probably should be treated like one
Easily dismissed as "fast money" with all the negative implications that can bring in the primary bond market, hedge funds are becoming increasingly important to covered bond issuers
Analysis
Asset class is about 5bp wider than at start of the year
Comments from regulators welcomed by ECBC head
After the busiest June since 2010, banks are well progressed in the covered funding programmes
Benchmark issuance is running 13% ahead of last year
More articles
More articles
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Note holders of Depfa ACS bonds can expect to be paid handsomely for their holdings, provided they meet Monday’s registration deadline to agree to the new purchase scheme. But although the terms look attractive, it is far from clear that a successful outcome will be achieved. -
Is finance about to break out of the cocoon in which it has pupated for decades, and become a completely different life form?
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The European Commission signalled this week that it would extend regulation into many more aspects of sustainable finance, driving an agenda that could change the role of capital markets in society. But although responsible investing experts welcomed it, the complex package of at least 30 measures is likely to provoke a wide variety of reactions, from enthusiastic support to complaints that it is too slow and unambitious, to outright opposition. Jon Hay reports.
