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◆ Bank prints first Belgian covered in over six months ◆ Issuer caps order size at €750m from start ◆ Covereds this week offering more new issue concession
◆ €1.5bn covered is ING's first of 2026 ◆ 5bp of concession ◆ 'Sweet spot' tenor
◆ Issuer tightens spread by 4bp ◆ Stronger opening on Wednesday paved way for covered ◆ Deal offered some new issue premium
◆ Bond the first EuGB covered ◆ Danish issuer tightens spread by 5bp ◆ Issue offers next to no concession
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◆ Minimal impact from escalating Middle East conflict ◆ Investors eager to buy long end BPCE ◆ Danske lands flat to Pfandbrief
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◆ NordLB achieves price with capped size ◆ Commerzbank squeezes €750m from slim book ◆ Low single digit premiums paid
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◆ Scotia and Bank of Queensland tap the short end ◆ Single digit premium for Scotia ◆ BoQ offers spread to Aussie major peers
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◆ French issuer closes in on 2025 funding target ◆ Single digit pick-up offered over tight core European names ◆ Little to no premium needed for a sizeable trade
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◆ Bank's first dollar benchmark bond for 10 years ◆ Most of paper sold outside Dach ◆ Diversification achieved at a cost to euros
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◆ Bank regains access to euro covered bonds after selling previous issuers ◆ Deal prices in line with Australian and Canadian paper... ◆... allaying concerns about LCR eligibility