Posts Tagged ‘ covered bonds ’

Danske Eu1bn five year covered ‘kick-starts’ pool rejig

Mar 4th, 2016
Danske

Danske Bank sold a Eu1bn five year covered bond on Tuesday that a lead manager said kick-starts more frequent issuance out of the Danish bank’s C pool after changes to the way in which the issuer funds its international mortgage lending with covered bonds.



BRFkredit prepares euro benchmark covered bond debut

Mar 4th, 2016
brfkredit_tulipaner300

BRFkredit is set to launch an inaugural euro benchmark covered bond in a move that an official at the Jyske Bank subsidiary said will reduce its refinancing of Danish krone bonds while taking advantage of funding opportunities in the European market.



Vest impresses with well bid Eu500m, cites growing reputation

Feb 26th, 2016
Sparebanken_vest_new_web

Sparebanken Vest Boligkreditt on Wednesday sold a Eu500m five year covered bond that was twice oversubscribed at the same time as achieving “ambitious” pricing, and an official at the Norwegian issuer said that recognition of the credit is increasing.



Specialist Finnish issuer expected under ‘One Nordea’ plan

Feb 26th, 2016
Nordea Bank Finland300

Nordea is expected to establish a distinct Finnish covered bond issuer as part of a strategy whereby its Danish, Finnish and Norwegian banking subsidiaries will become branches of the Swedish parent, a move that will be put to the group’s annual general meeting next month.



Swedbank in EUR1.5bn ‘blowout’ covered bond at low NIP, SEB follows

Feb 5th, 2016
Swedbank

Swedbank attracted the most demand of any euro benchmark covered bond this year on Wednesday, pricing a EUR1.25bn five year issue at only a modest new issue premium (NIP), and SEB yesterday (Thursday) built upon the template to issue a EUR1.5bn five year at the same level.



SCBC in quality Eu1bn covered against choppy backdrop

Jan 29th, 2016
SBABinstagram

SCBC launched the first euro benchmark covered bond of the year from Sweden on Tuesday, attracting EUR1.4bn of orders for a EUR1bn (SEK9.28bn) five year, and bankers said the high quality issue appealed to risk-off investors after volatility had returned to financial markets.



DNB returns in resilient start for covered, but SR struggles

Jan 8th, 2016
DNB image

A DNB €1.5bn five year covered bond attracted over €2bn of demand yesterday (Thursday) as eight euro benchmarks totalling €8.5bn hit the market this week, with the asset class proving resilient amid tough conditions, although a SR-Boligkreditt deal was seen as a struggle.



Swedes critical of covered harmonisation, Danes in warning

Jan 8th, 2016
Drapeaux européens devant le Berlaymont

The Association of Swedish Covered Bond issuers (ASCB) has criticised the proposition that harmonisation of covered bond frameworks, as outlined in a European Commission paper, would be beneficial, as market participants responded to the consultation ahead of an originally-scheduled deadline of Wednesday.



Sterling attractive as Nordea Eiendomskreditt sells £400m FRN

Jan 8th, 2016
Nordea Frogner Oslo NNFIC

Nordea Eiendomskreditt attracted £425m of orders for a £400m (€545m) three year floating rate  covered bond on Wednesday, which, alongside similar issues for Lloyds beforehand and Bank of Nova Scotia afterwards, bankers said shows sterling to be an attractive option for issuers.



Eu175bn of benchmarks to return covered to net growth in 2016

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.