Archive for November 2015
Nov 27th, 2015
Sweden’s FSA and National Debt Office have questioned the rationale behind proposals from the Riksbank that would tighten its rules on the use of covered bonds as repo collateral, and disputed that certain structural risks and vulnerabilities are not reflected in covered bonds’ ratings.
Posted in Sweden
Nov 27th, 2015
Swedbank used a clear window to sell a tightly priced Eu750m long five year senior unsecured bond yesterday (Thursday), with conditions proving resilient over the week and investors receptive to issuance from across the capital structure.
Posted in Market
Nov 20th, 2015
As always around this time of year, the focus of investors and issuers – as well as analysts – starts to shift towards their expectations for the coming year, writes Florian Eichert, head of covered bond and SSA research at Crédit Agricole CIB.
Posted in From Crédit Agricole CIB
Tags: covered bonds
Nov 20th, 2015
Realkredit Danmark (RD) took the unprecedented step of cutting a three year covered bond auction from Dkr2.72bn to Dkr1.90bn (Eu255m) on Wednesday, citing dissatisfaction with orders for the sale, although the bulk of the week’s issuance was relatively smooth.
Posted in Denmark
Tags: ARMs, auctions, Danish, Danske, Denmark, Nykredit Realkredit, Realkredit Danmark
Nov 20th, 2015
OP Mortgage Bank set the tone for a strong week in the covered bond market with a Eu1.25bn five year issue on Monday that attracted orders approaching Eu1.8bn at a limited new issue premium, with Stadshypotek and Danske Bank Finland following successfully in its wake.
Posted in Market
Tags: Danske Bank Finland, euros, Finland, Finnish, OP Mortgage Bank, Sampo, Stadshypotek, Svenska Handelsbanken, Sweden, Swedish
Nov 13th, 2015
Moody’s has improved its outlook on the Swedish banking system from negative to stable, citing the positive impact of strong economic growth on asset quality and profitability, but the rating agency also warned of the consequences of a housing boom.
Posted in Sweden
Tags: Moody's, Sweden, Swedish
Nov 13th, 2015
Nykredit Realkredit attracted more than Eu2bn of demand for a Eu800m 12 year non-call seven Tier 2 issue on Tuesday, taking advantage of the reopening of the subordinated debt market after having announced its third quarter results last week.
Posted in Denmark
Tags: Danish, Denmark, Nykredit Realkredit, Tier 2
Nov 13th, 2015
Skandinaviska Enskilda Banken (SEB) sold an inaugural sterling covered bond yesterday (Thursday), a £250m (Eu353m, Skr3.29bn) three year FRN, and the issuer’s head of treasury management said that it would now look to return to the UK market each year.
Posted in Market
Tags: SEB, Skandinaviska Enskilda Banken, sterling, Sweden, Swedish
Nov 6th, 2015
SpareBank 1 Boligkreditt amassed a book of over Eu1.7bn for a Eu1.5bn three year covered bond yesterday (Thursday) that bankers said showed strong demand for shorter dated paper, with the Norwegian deal standing out amid a slew of five to seven year supply as the equal-largest three year of 2015.
Posted in Norway
Tags: covered bond, Norway, SpareBank 1, SpareBank 1 Boligkreditt
Nov 6th, 2015
Nordea attracted over Eu4.5bn of demand for a “blowout” Eu750m (Skr7bn) 10 year non-call five Tier 2 issue on Monday that bankers said showed the market is wide open, but expectations for further supply next week are modest after only one Tier 2 deal followed.
Posted in Market
Tags: Barclays, Credit Suisse, Nordea, Nordea Bank, senior unsecured, Tier 2