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◆ Heavy coverage ratio and low attrition ◆ Investors attracted by extra spread versus KBC ◆ Adds more supply in heavy week for insurance capital
◆ Large order book with some attrition ◆ Fair value debated, with hedge funds spotting it tighter ◆ Investors turning more price sensitive, says lead
The bank has been added to DNB's list of registered covered bond issuers
Data
Issuers seizing moment as rates stabalise and spreads hold near historic tights but some deals betray signs investors growing sensitive on price
Less frequent issuers making the most of market with strong bid for yieldy assets
Borrowers want to issue and spreads are tight, but execution windows are very unreliable
Tightening absolute and relative valuations have raised some concerns, but FIG assets remain in vogue thanks to higher rates
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◆ Market conditions worsened in afternoon ◆ Deal priced flat to fair value with minimal attrition ◆ Bucks NIP trend from recent deals -
◆ Book grew after pricing tightened ◆ Issuer's first capital trade in two years ◆ Premium paid
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The deal grew from €350m after receiving strong demand
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The lender only put one investment bank on the mandate, a rarity in Turkey
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The awards recognise the market's leading deals, issuers, banks and other participants
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◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them
Polls and awards
The winning institutions and individuals will be revealed at the awards dinner on June 17 in London
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
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