LBBW
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◆ German bank pays small new issue premium ◆ Issuer could have tightened further, banker says ◆ Deal latest in raft of public sector covereds this year -
◆ Order book smaller than issuer’s last covered in January ◆ Banker said covered bond market has reached plateau ◆
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◆ UK building society offered 1bp-2bp NIPs on each tranche ◆ Banker said covered was 'well-flagged' ◆ Second banker said they took BNS and added 'UK pick-up'
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◆ Finnish bank tightened by 8bp through execution ◆ Banker said 35bp starting point was 'spot-on' ◆ Second banker said deal went 'better than expected'
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◆ Finnish bank tightened by 7bp through execution ◆ Banker said FRV not easy to calculate ◆ Second banker cited recent strong Nordic covereds
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◆ Deal executed after 7bp of tightening ◆ Banker said spread represented fair value depite busy day for euro issuance ◆ Deutsche Kreditbank goes long amid thriving Pfandbriefe issuance
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◆ Six year bond trades lower in secondary market ◆ Deal a first for Slovakia, says banker ◆ MPS closes its first covered of 2026
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◆ Orders pour in, crushing new issue premium ◆ Pricing well through French sovereign ◆ Market warming to longer-dated paper
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Clearstream and the VDP are working together to get system working by end of 2026
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Natixis has grown its covered bond business in Australia and the Nordics this year, its head of FIG DCM said
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◆ Record book for an EIB EARN ◆ Demand supports ‘comfortable’ 3bp tightening ◆ Positive backdrop as SSA spreads perform in secondary
