Wales’ Principality prepares for covered bond issuance
Principality Building Society is planning to join its larger peers and enter the covered bond market with the establishment of a new €5bn (£4.37bn) programme this year, as it exits the TFSME and following prior residential mortgage-backed securities issuance.
DZ Hyp 5s last, but not least as industry heads to Seville?
A €1bn five year green Pfandbrief from DZ Hyp successfully rounded off a compact week of euro benchmark issuance yesterday, with the ECB meeting today and industry events in Seville next week seen supressing supply before a potential rebound the following week.
Achmea €500m sevens avoid French political interference
Achmea Bank had the euro benchmark covered bond market to itself today (Monday), with a €500m no-grow seven year issue encountering negligible impact from the imminent French no confidence vote and attracting a peak €1.4bn-plus of orders and paying a minimal new issue premium.
CIBC taps sterling covered, as HMT overseas plan reassures
CIBC tapped a sterling covered bond for £200m today, after UK authorities’ proposals to introduce an Overseas Prudential Requirements Regime boosted confidence with a move that market participants said should in the longer term provide a constructive basis for equivalence.
Pfandbrief issuers bask in demand, but forecast mixed
The vdp Issuance Climate survey recorded a positive overall score for the first time last month, with the Pfandbrief component also achieving its highest ever score in its sixth biannual iteration, although the prospects for the next six months are mixed.
Bertalot: Prepare for action as ‘wind of change’ hits Brussels
Changing priorities in Brussels, with the omnibus simplification package, augur radical changes to the regulatory landscape, according to the ECBC’s Luca Bertalot, who said it is ready to support a new capital markets paradigm, and its members post EBA’s report.
The CBR 2025 Awards for Excellence: Our winners
We are delighted to recognise the 14 winning institutions and issuances of The Covered Bond Report Awards for Excellence 2025, following their announcement at the Covered Bond Investor Conference in Frankfurt yesterday (Thursday).
DZ to lead covereds as FIG mart rides out Iran bombing
DZ Hyp is set to hit the market with a short 10 year benchmark mortgage Pfandbrief tomorrow and at least two other issuers are said to be waiting in the wings, after the FIG primary market rode out the aftershocks of the US attack on Iranian nuclear sites.
Recent news
- HSBC debuts with successful €750m 5s to reopen UK euros
- Greek banks set to aim high in eventual covered comebacks
- Reciprocity key for EBA; fears linger despite UK PRA U-turn
- Trio show size and price back on table post tariff turbulence
- Nominations, please! The CBR Awards for Excellence 2025
- Skipton profits from stability, PRA move, for strong £500m
- BPCE exceeds expectations as long 5s draw €4.3bn book
Latest benchmarks and subs
| BayernLB | |||
| EUR750m | 2.625% | 2031 | +26bp |
| CBA | |||
| EUR1.25bn | 2.853% | 2031 | +39bp |
| ABN Amro | |||
| EUR1.50bn | 2.500% | 2029 | +19bp |
| Belfius | |||
| EUR500m | 2.625% | 2030 | +30bp |
| Maybank | |||
| EUR500m | 2.504% | 2028 | +27bp |
| Click issuer for more | |||
Categories
CBPP3»
5/05/23 •
Covered bonds seen well set for July end to CBPP3 era2/28/23 •
BHH shows life after CBPP3, HSBC Canada joins in fives2/21/23 •
NN, Sabadell successfully hit last CBPP3 primary orders
Dollars»
12/06/23 •
Dollars offer pbb unexpected cheer amid tricky conditions5/19/23 •
Westpac $1.75bn fives open 2023 dollar covered strongly12/09/22 •
RBC, BMO back for Canadian last hurrah in dollars, sterling
