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
-
The European Banking Authority has warned issuers against rushing into the sustainability-linked bond market, as it works on deciding whether the structures conflict with eligibility criteria for capital and other loss-absorbing instruments. Despite the warning, market participants are pushing hard to make sure banks are able to issue SLBs in any format, writes Tyler Davies. -
Canadian Imperial Bank of Commerce returned to the euro covered bond market for its first deal since March 2020, issuing a highly subscribed €1bn eight year flat to fair value this week. At the same time Laurentian Bank said that its programme had received regulatory approval.
-
Aareal Bank and Deutsche Pfandbriefbank (PBB) issued highly successful Sonia linked Pfandbriefe this week, doubling the supply seen so far this year.
-
Aareal Bank managed to attract healthy demand for its first Sonia covered bond, enabling it to price the deal in line with fair value, in a large size, with negligible price sensitivity and a high quality order book.
-
Laurentian Bank has received approval from Canada Mortgage and Housing Corporation to establish a C$2bn legislative covered bond programme.
-
Bank of Cyprus said that it might start issuing senior paper towards its minimum requirement for own funds and eligible liabilities (MREL) later this year as it looks to satisfy its 2022 interim target.
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