Weekly Covers

FIG issuers have shown that investors are ready to absorb all the supply that comes their way

◆ Strong demand for capital supports two major banks' simultaneous deals ◆ Deutsche goes big and pays concession ◆ SG restricts size for a punchy print at fair value

‘Whole curve open’ for SSA issuers but seven year point stands out as ‘interesting’ spot amid euro curve shape shift

◆ Issuer lands in 'the place to be' amid strong demand for covereds ◆ Achieves its largest covered book since at least 2023 ◆ After 7bp tightening the bond was spotted another 2bp tighter to erase new issue concession

Market participants have questioned if the differential in the risk-weightings between securitized and covered assets will affect demand for covered bonds

Nofal Shehzad at Eurofima and Antonio Gómez-Chaparro de Luna at BNP Paribas discuss the supranational's recent euro deal

Missile alert stunted flow, but pricing still the main barrier

Pair bring first public non-bank deals from GCC since the start of the Iran War

Estonian sovereign outing its first under local law

The European Covered Bond Council plans to submit its report on the proposed reforms to the European Commission

◆ Mercedes-Benz prints its first euro public deal of 2026 ◆ Traton's debut green bond pays small NIP ◆ Both issuers tapped euro private placements this year

Dollar and euro flow picks up in private placements