Top section
Top section
◆ 'Reassuring' result as Danish lender becomes more frequent issuer ◆ Strong bid from international accounts ◆ Minimal NIP
◆ Shorter tranche tightened more than longer ◆ Largest single euro covered tranche since 2024 ◆ Banker said longer end paid more premium
◆ Issuer chose larger order size ◆ Strong supply of five year covereds cited ◆ Seventh German covered in three weeks
Data
Contrasting investor receptions in euro and sterling markets but new issue premiums rise in both
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
More articles/Bond Comments/Ad
More articles/Bond Comments/Ad
More articles
-
Recent share price movements imply that a third of the loans under moratoria at Italian banks could end up as unlikely to pay (UTP) exposures, according to analysts at Equita, an investment bank, who expect that the true figure could be closer to 10%. -
Korea Housing Finance Corp (KHFC) has hired lead managers for a new social covered bond in the euro market. It is its second such deal in the currency this year, and it could face tougher conditions this time.
-
The US Federal Reserve will publish the results of its latest bank stress tests this week, after updating the exercise to include three new scenarios related to Covid-19. The new scenarios could have a bearing on dividend policy, but capital requirements will still be based on the pre-pandemic stress test model.
-
The renewed flood of central bank funding in the form of a new round of Targeted Longer-Term Refinancing Operations (TLTRO III) will put a severe dent in the supply of commercial paper from bank borrowers.
-
The European Banking Authority will carry on guiding banks to apply favourable treatment to loans covered by payment holidays, though it recognises that liquidity issues facing companies during the Covid-19 pandemic could soon turn into solvency issues.
-
Each week, Keeping Tabs brings you the very best of what we in the GlobalCapital newsroom have found most useful, interesting and informative from around the web. This week: the challenges facing European bank supervisors, attitudes to ethical investing by generation and gender, and how racial inequality rears its head in the US housing market.
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