Top section
Top section
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
◆ Three year creates another point on curve ◆ €750m was target, Leumi’s deputy CEO said ◆ Strong market reopening after summer lull gave confidence
Pierre Gay is retiring after seven years in the post
Data
Covered market provides 'the deepest pocket of demand' among FIG asset classes
Capital deals and a tight Nordic senior print point to what lies ahead for issuers
The single currency stands out as the most attractive funding source while the US dollar market remains open in size
Some evidence of green price advantage in secondary market, but not primary
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Consultancy firm Oliver Wyman said in a report this week that European banks will face a delayed credit impact from the coronavirus pandemic if they fail to unwind emergency government support measures properly. -
My Money Group is looking to issue a tier two bond this week with an unusual structure aimed at safeguarding its S&P rating following its planned acquisition of HSBC France.
-
Shanghai Pudong Development Bank (SPDB) leaned on a large syndicate team to sell a dual-currency bond that was mainly bought by other Chinese banks.
-
The European Commission launched on Tuesday a second big wave of regulation that will soon be controlling more aspects of sustainable finance more tightly. There is a tendency to think anything with the word “sustainable” attached to it is good. But capital markets specialists must ask themselves: will the regulations be helpful?
-
Aside from the covered bond market, issuance volumes fell away in most corners of the primary market last week as the markets slow for summer. Although most deals were well subscribed, the average oversubscription ratios in each market struggled to maintain previous levels — a reflection of the tight spreads on offer in FIG and corporate bond markets.
-
Royal Bank of Canada has sold the third Canadian covered bond in sterling this year, landing its £1.25bn deal at a spread identical to those of its two peers. Meanwhile, Münchener Hypothekenbank is set to join the sterling spree in the coming days with the first fixed rate covered bond in the currency since 2018.
Polls and awards
Cast your vote now to decide this year's covered bond award winners and express your views in our new market survey
Bond market's leading performers recognised at GlobalCapital's annual awards ceremony
The awards recognise the market's leading deals, issuers, banks and other participants
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
Sub-sections
Comment