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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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Investors seek structured and vanilla FRNs from credit and SSA issuers amid sharp rate fluctuations -
Returnee lands through fair value on currency diversification drive
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◆ Issuer takes advantage of attractive sterling funding levels ◆ Printing during UK school holidays no problem for 'very well loved name' ◆ Sterling FIG senior undersupplied versus last year
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If it looks like a covered bond, acts like a covered bond and prices like a covered bond, then it probably should be treated like one
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European bank trio pushes dollar AT1 volume well above the same period last year
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Bank dollar issuance for 2026 surpasses $310bn amid benign funding conditions for all sorts of FIG debt
Polls and awards
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
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
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