Nordic US dollar denominated covered bond issuance emerged in the middle of the crisis (Q4 2010) because of strong investor interest in diversifying risk through non-euro/non-eurozone assets, writes Nicolas Poli, Global Head of Covered Bond & SSA Trading at CA-CIB. Last year saw the pick of Nordic supply, with six new syndicated dollar benchmark transactions.

The Covered Bond Report’s Susanna Rust spoke to Henrik Andersen, head of treasury and financial institutions at Nykredit Bank, about its funding strategy.

Danske Bank is cutting the number of ratings of its covered bonds to two to save resources, it said last Thursday (30 August), with Moody’s being dropped from a line-up that will henceforth consist of Fitch and Standard & Poor’s.

Nykredit Realkredit wrapped up two weeks of auctions today (Thursday), hitting historically low yields to pass on attractive rates to borrowers, an official at the mortgage credit institution told The Covered Bond Report, and for the first time it achieved an equal distribution of volumes across three auction periods in a year.