OCBC
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◆ Issuer slings third Singaporean covered of the week into the market ◆ Pricing tight to secondaries ◆ Sterling covered volumes boom thanks to offshore funders -
Loan's six year tenor will start when two ammonia carriers are delivered. Golan LNG and North Star also closed financing packages
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◆ OCBC's prices first covered bond since April 2025 ◆ 10th Asian covered issued in 2026 ◆ Order book peaks at over €2bn but lost €400m
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Multi-year high August volumes raise questions for next month's issuance
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◆ Tight deal needed no premium ◆ New investors buy the name ◆ Some short-dated covered bonds now trading through Länder
