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◆ Singapore bank returns after lengthy absence ◆ Price tightened from 34bp area ◆ Lead banker said ‘one or two deals left in 2025’
◆ Montreal bank taps sterling for second time in 2025 ◆ Aussie comps considered ◆ Order book shrinks from £820m peak
Akademiska Hus and Pfandbriefzentrale look for funding in Swiss francs
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Deal reviews
Akademiska Hus and Pfandbriefzentrale look for funding in Swiss francs
◆ Deal size matches bumper Scotia sale ◆ Sterling shows no signs of slowing, say bankers ◆ NAB previously tapped dollars and euros this year
◆ Bookrunners keen to test boundaries with pricing ◆ Strong order book attracts high proportion of real money investors ◆ Trade tightened by 6bp
◆ French lender amasses huge €4.5bn book ◆ CFF prices only slightly wider than OATs ◆ Strong conditions could attract prefunding trades
Opinion
◆ Why buy bonds when spreads are so tight ◆ Using tech to unearth new economic signals ◆ Playing the shifting relative value pitch
Diversifying demand... coming inside euros... landing flat to dollars... the UK market looks tasty
Why remembrance of things past will soon include the traditional relationship between French covered and sovereign bonds
The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime
Analysis
Strong demand for slim supply could tempt issuers to access the market before Christmas
No investors involved in Caffil's latest deal mentioned concerns over French risk
Issuers' desire to put covered pre-funding to one side suggests concerns over bumps ahead
Absence of new bonds to help secondary spreads grind tighter
More articles
More articles
More from covered bonds
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◆ Bank's first dollar benchmark bond for 10 years ◆ Most of paper sold outside Dach ◆ Diversification achieved at a cost to euros -
◆ Bank regains access to euro covered bonds after selling previous issuers ◆ Deal prices in line with Australian and Canadian paper... ◆... allaying concerns about LCR eligibility
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◆ Issuer's longest ever public bond ◆ Priced tighter than debut eight year Pfandbrief ◆ Still offers premium to established compatriots
