Pre-migration untagged articles

The seventh cédulas transaction in as many days showed the Spanish market proving more resilient than some covered bond players had anticipated when Banco Santander reopened it a week earlier.

While promoting Jesse Bhattal to its executive board was a smart move by Nomura, the bank has to demonstrate that this is the start of a broader cultural shift.

A widening of the euro/dollar basis swap over the past week led to an increase in dollar flows in European commercial paper, but bankers believe that investor limits prevented some regular SSA borrowers taking advantage of the arbitrage.

The Kingdom of Belgium sold a Eu700m 30 year put 20 year fixed rate note via Société Générale on Wednesday in a rare foray into the structured market that cut the sovereign’s borrowing costs.

Canada Mortgage and Housing Corp issued a landmark C$6bn five year Canada Mortgage Bonds (CMB) this week. Joint leads CIBC World Markets, Bank of America Merrill Lynch, BMO Capital Markets and RBC Capital Markets priced the offering at 18bp over the June 2015 government bond, the tightest level on a five year fixed rate CMB since September 2007.

Santander launched the first Spanish benchmark covered bond in two months on Thursday, a Eu1bn seven year cédulas hipotecarias transaction that highlighted the recovery of the market after a frustrating February.

Republican congressman Scott Garrett introduced the US Covered Bond Act on Thursday, which builds on his previous efforts to create a legislative framework for the asset class in the US.

Eurohypo Luxembourg on Tuesday priced a Eu750m three year public sector lettres de gage transaction a week earlier than planned in response to an issuance window that appeared quickly.

A former head of Scandinavian swaps at Merrill Lynch in London was this week banned by the UK’s Financial Services Authority for mis-marking his positions by $100m in early 2009.

Sweden’s Länsförsäkringar Hypotek priced an inaugural, Eu1bn five year euro covered bond at 45bp over mid-swaps this week, fulfilling a long-established aim of diversifying its funding sources.

Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of less than 365 days.