EMF-ECBC calls for pan-EU mortgage guarantee scheme
The European Mortgage Federation-European Covered Bond Council has called for a “28th regime” mortgage guarantee scheme as part of a package of measures it argues would support the bloc’s broader economic and political targets, and further integration of mortgage markets.
Green bid delights as Nordea leads covereds into EuGBs
Nordea Mortgage Bank issued the first EU Green Bond in covered bond format on Wednesday, a €1bn three year that is also the first EuGB from a Nordic financial institution, and the bank’s efforts were rewarded with an especially strong outcome, head of covered bonds Morten Keil told The CBR.
LBBW ups buyback to €1bn as LM combo exceeds hopes
Landesbank Baden-Württemberg announced on Wednesday that it has bought back €1bn of Pfandbriefe, having upped the cap on a tender for six issues launched the previous week in conjunction with a new €500m benchmark, in the largest covered bond buyback by volume since 2020.
SR-Boligkreditt sees green a factor in book high, zero NIP
SR-Boligkreditt achieved its biggest ever order book for a covered bond last Wednesday, with its green format contributing to the level of demand and zero NIP achieved on the €1bn seven year, according to Dag Hjelle, the issuer’s CEO and head of treasury at SpareBank 1 Sør-Norge.
Arion defrosts Icelandic mart as Aa1 helps it to record book
Arion Bank issued the first Icelandic covered bond in almost three years last week, a €300m five year deal rated Aa1 that achieved the largest book from the country, and the bank now intends to be a more frequent issuer, according to head of treasury Eiríkur Dór Jónsson.
Haspa enjoys fruits of ESG efforts in €500m green first
Hamburger Sparkasse issued the first green euro benchmark covered bond of 2026 yesterday, a €500m seven year debut Green Pfandbrief that benefited from its scarcity and ESG credentials to achieve a strong result in terms of demand and price, according to Haspa’s Felix Zillmann.
DKB steps up to €1bn as investors welcome 15 year
Deutsche Kreditbank sold its biggest covered bond since 2006 and the longest-dated benchmark of 2026 yesterday, a €1bn 15 year Pfandbrief that generated a bumper €4.4bn book flat to fair value, vindicating the bank’s issuance strategy, according to funding officer Clemens Lukitsch.
Schwäbisch Hall, Hypo OOE ride out Greenland tensions
Bausparkasse Schwäbisch Hall and Hypo Oberösterreich successfully issued a benchmark and a sub-benchmark, respectively, yesterday and today (Wednesday), with the euro covered bond market otherwise subdued this week in the shadow of President Trump’s Greenland-related threats.
Recent news
- DZ hires Lee in Asia-Pacific push
- Principality covered debut hits targets, adds funding flexibility
- Bank Leumi brings Israel into covered bond fold with debut
- Caffil gets record €10bn book in climax to French 10s frenzy
- £1bn fixed rate tranche helps Nationwide to sterling high
- Arkéa 10s draw €3.6bn at fair value in prelude to wider start
- Key covered bond risk weight halved in ECON draft report
Latest benchmarks and subs
| ABN Amro | |||
| EUR1.50bn | 2.875% | 2031 | +23bp |
| BMO | |||
| GBP1bn | FRN | 2029 | +50bp |
| Coventry | |||
| EUR750m | 3.000% | 2031 | +32bp |
| Kommunalkredit Austria | |||
| EUR500m | 3.250% | 2032 | +47bp |
| Sparebanken Norge | |||
| EUR1bn | 2.875% | 2031 | +24bp |
| 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
