FIG

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  • Traders reluctant to 'chase’ covered bond spreads tighter

    Traders reluctant to 'chase’ covered bond spreads tighter

    Even though technical factors are highly supportive for covered bonds, traders say they are unwilling to lift offers, reflecting increased anxiety about limited performance potential and an underlying concern that credit market sentiment is less sure-footed that at the start of this year.

  • BPCE finds good covered demand amid gloomier outlook

    BPCE finds good covered demand amid gloomier outlook

    BPCE found good demand for a two-part covered bond on Monday with the bonds pricing almost flat to its curve. Even so, the near term outlook has become less certain as German lockdowns are expected to be tightened amid renewed concern over the impact on commercial mortgages secured in some Pfandbrief.

  • Quality not quantity for BFCM sterling senior

    Quality not quantity for BFCM sterling senior

    Banque Fédérative du Crédit Mutuel (BFCM) paid up to attract investors to its new preferred senior sterling deal on Monday. Although it was unable to match the quantity of demand set by BNP Paribas' non-preferred deal earlier this year, sources close to the deal were pleased with the quality of investors involved.

  • FIG banker Enns picked as Chubb CFO

    FIG banker Enns picked as Chubb CFO

    Peter Enns, most recently global co-head of advisory and investment banking coverage (AIBC) at HSBC, is set to be the next chief financial officer at insurer Chubb.

  • MuHyp goes long in covereds

    MuHyp goes long in covereds

    Muenchener Hypothekenbank (MuHyp) sold the longest covered bond of the year so far this week, and bankers expect more long end deals to follow.

Covid-19 bonds

  • Bank senior Covid-19 response table

    Bank senior Covid-19 response table

    After the global eruption of the coronavirus pandemic, issuers such as governments, central banks and companies have been prompted to create new strategies to tackle the negative effects.




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Covid-19 Crisis

In Depth

  • UK moves early to dispel fears about bank capital buffers

    Markets rejoiced this week after the Bank of England proposed policy changes that will make it harder for UK lenders to run into automatic restrictions on their additional tier one coupons and equity dividends. The move was seen as a way of addressing concern about ‘buffer usability’, which has come to the fore during the Covid-19 pandemic.