Top section
Top section
◆ Rare five year tenor ◆ Competitive pricing versus dollars and euros ◆ Sixth sterling covered from Canada this year
BPCE also added a French prime RMBS to the pipeline
Order books are more concentrated than before the war, said a banker involved
Data
Observers blame slower bookbuilding on deal-specific factors but others see warning shots for whole market
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
The primary market for covered bond issuance is expected to improve in the five to 10 year part of the curve in the run up to next week’s European Central Bank meeting. Although Aegon Bank showed that the ultra-long long end is open, a more guarded approach is warranted, said bankers on Thursday. -
Close Brothers' tier two refinancing was nearly eight times subscribed on Thursday, allowing the issuer to tighten its new issue spread by an impressive 30bp.
-
South Korea's Shinhan Card has sold a $300m social bond in the Taiwanese market, finding strong interest from investors keen to support deals in this growing asset class.
-
Aegon Bank paid special attention to timing when pricing its first soft bullet covered bond, reflecting challenging market conditions, according to the bank's head of capital market solutions, Lein Pieter Cevaal.
-
Crédit Agricole was nearly five times subscribed for a tier two in the sterling market on Wednesday, as investors showed they were hungry for the extra spread on offer through subordinated products.
-
Danske Bank found a smooth ride in the non-preferred senior market on Wednesday, even as investors started to wonder about relative value in the asset class.
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