Top section
Top section
◆ Small premium left for investors ◆ Final yield close to 4% 'inflection point' ◆ Rabo adds to senior green rush
New issue premium was zero, agreed those on and off the deal
This week’s covered bond market was quiet compared to seniors and SSAs, bankers say
Data
Banks could rush to issue as fast as possible, taking advantage of remarkably tight spreads
Growing pipeline and fiercer competition had threatened to shake the darling bonds of May
Uncertainty in Middle East peace negotiations may reignite alarm, but investors remain willing as long as issuers pay to play
Tweaks to trading book rules will be next stage of competition
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Nationwide Building Society plans to issue the first euro denominated covered bond from a UK issuer this year and the first since Brexit was concluded. The €500m deal comes after a series of successful Canadian covered bonds, but unlike them it has a much longer 20 year maturity. -
Bayerische Landesbank (BayernLB) was set to price the tightest covered bond of the year on Monday and the tightest Pfandbrief since late 2018, boding well for two follow-on transactions from Muenchener Hypothekenbank and Natixis Pfandbriefbank.
-
Goldman Sachs made its second visit to the Maple market this year on Thursday. The Canadian dollar market is enjoying its busiest year in four years for offshore issuance.
-
Bayerische Landesbank (BayernLB) is readying to issue its first covered bond in over two years, having appointed banks on Friday to sell a 10 year deal.
-
Bank of America sold a floating rate note over the Bloomberg short-term bank yield index rather than Sofr this week, as Morgan Stanley added to the post earnings rush in dollars.
-
Market participants will embark in the coming weeks on the difficult task of working out how to use the European Union’s sustainable finance Taxonomy, after the first criteria were published this week. In doing so, they will be conscious that the smooth tide of green finance is now breaking against the hard reality of power politics and resistance by fossil fuel industries — a clash that is rocking the Taxonomy’s credibility, writes Jon Hay.
Polls and awards
Don't miss your chance to choose this year's Bond Award winners
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
Sub-sections
Comment