Covered Bonds

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  • Aegon sets up soft bullet covered bond programme

    Aegon sets up soft bullet covered bond programme

    Aegon Bank has registered its soft bullet covered bond programme with the Dutch central bank and has published its base prospectus, suggesting it could be ready to mandate leads after posting results this week. Aegon follows NN Bank, which became the first Dutch bank to switch away from using conditional pass through (CPT) covered bonds, with Achmea Bank set to follow.

  • ASB Finance and Berlin Hyp plan covered bonds

    ASB Finance and Berlin Hyp plan covered bonds

    Commonwealth Bank of Australia’s New Zealand subsidiary, ASB Finance, has mandated leads for the first Kiwi covered bond since January 2019. At the same time, Berlin Hyp has appointed lead managers for a 12 year mortgage Pfandbrief.

  • Cred Ag fills senior DCM roles from within

    Cred Ag fills senior DCM roles from within

    Crédit Agricole has promoted four staffers to fill vacant and newly created jobs in its debt capital markets leadership team, including global head of financial institutions DCM and head of European corporate DCM.

  • Bankers divided on EBA’s LGD consultation

    Bankers divided on EBA’s LGD consultation

    The European Banking Authority’s consultation assessing risk weights and loss given default of mortgage risk has drawn a mixed response from bankers, with some suggesting the regulator was angling for higher capital charges, while others came to the opposite conclusion.

  • Covered bond trio enjoy triumphant results

    Covered bond trio enjoy triumphant results

    DNB Boligkreditt and Sparebank 1 Boligkreditt (Spabol) issued deals flat to their curves with strong demand this week, while Bawag brought the first Austrian transaction through mid-swaps in almost three years.

  • Sparebank pays zero premium for €1bn 10 year funding

    Sparebank pays zero premium for €1bn 10 year funding

    Sparebank 1 Boligkreditt (Spabol) priced a €1bn 10 year Norwegian covered bond flat to fair value on Thursday with demand of more than €2bn, showing, once again, the effect of investor demand in an environment of unprecedented negative net supply.

  • DNB prices flat to covered curve with Spabol to follow

    DNB prices flat to covered curve with Spabol to follow

    DNB Boligkreditt issued a €1bn seven year covered bond at flat to fair value with strong demand on Wednesday, providing encouragement for Sparebank 1 Boligkreddit (Spabol) which mandated leads for a follow-on 10 year Norwegian covered bond.

  • Nationwide: 20 year covered 'made sense on both sides'

    Nationwide: 20 year covered 'made sense on both sides'

    Nationwide Building Society made a small piece of history in the covered bond market last week. The UK building society printed the first covered deal in euros from a UK bank since Brexit. It was also the issuer's first 20 year and the first covered bond in that maturity from anywhere outside the eurozone. Senior funding manager, Krishan Hirani, spoke to GlobalCapital about the genesis of the deal.

  • Pfandbrief market takes crisis and regulation in its stride

    Pfandbrief market takes crisis and regulation in its stride

    The Pfandbrief market is in the middle of a tumultuous year which includes not only the adoption of the EU's Covered Bond Directive but also digesting the bloc's Taxonomy for Sustainable Activities. Of course, this is all happening against the backdrop of the coronavirus pandemic and lockdowns, which have hit the commercial real estate market that underpins much of the product. Jens Tolckmitt, chief executive of the Association of German Pfandbriefbanks (vdp), spoke to GlobalCapital about how the market has coped.

  • PMM: Covered bond issuers take advantage

    PMM: Covered bond issuers take advantage

    Recent trades have demonstrated just how sublime primary market conditions are for covered bond issuers, stoking a revival of the previously dormant sector.

  • DNB set for covered bond return

    DNB set for covered bond return

    DNB Boligkreditt took advantage of strong market conditions to mandate leads for its second covered bond of the year on Tuesday.

  • Bawag bags stellar covered response as law enters final stage

    Bawag bags stellar covered response as law enters final stage

    Bawag became the first Austrian issuer to price a covered bond through mid-swaps since June 2018 on Tuesday when it issued a benchmark 10 year that attracted strong initial order momentum and an exceptionally granular order book. At the same time Austria’s Covered Bond Act consultation came to an end, suggesting the new legal framework will soon be enacted.

  • Kommunalkredit to kick off busy week for FIG

    Kommunalkredit to kick off busy week for FIG

    Kommunalkredit was the first name to throw its hat into what bankers are expecting could be a busy week in FIG primary markets next week. The Austrian lender is set to syndicate its senior deal as a private company next week, with a covered bond refinancing set to follow later this year.

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THE EUROMONEY ECBC VIRTUAL COVERED BOND CONGRESS 2020

  • Covered bond conference 

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  • On September 9-10, 2020 Euromoney and the ECBC hosted the eighteenth annual meeting for the international covered bond market, virtually.

  • Key figures:

    • 3,030 hours spent on the platform
    • An average 4.30 hours spent on the platform by each delegate
    • 740 unique visitors from 40 countries
    • 35,000 visits to the platform

    To find out more and watch the sessions, click here 

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