ABN, Mediobanca hit window with encouraging three years
ABN Amro and Mediobanca took advantage of a turnaround in market sentiment at the start of this week to hit the primary market today with €1.5bn and €750m three year covered bonds, respectively, boding well for further supply, including outstanding Canadian mandates.
‘Homework’ lets Evangelische debut smoothly in tricky mart
Evangelische Bank had the market to itself for an inaugural mortgage Pfandbrief sub-benchmark today, with the €250m six year deal getting away smoothly in spite of conditions that kept other financial institutions away from the primary market.
SpaBol at Norway’s forefront with debut EuGB covered
SpareBank 1 Boligkreditt issued the first EU Green Bond (EuGB) from the Norwegian banking sector last month, a €1bn seven year covered bond that SpaBol’s Eivind Hegelstad said answered a call from the debt capital markets.
Strong H1 puts €180bn 2026 in sight, but spreads still safe
Strong supply in the first half of the year has led some analysts to raise their forecasts for fully year euro benchmark issuance towards €180bn, but a consensus remains that modest net supply in the second half should support the spread performance of covered bonds.
The CBR 2026 Awards for Excellence: Our winners
We are delighted to share with you the 14 institutions and issuances recognised in The Covered Bond Report Awards for Excellence 2026, following their announcement at the Covered Bond Investor Conference in Frankfurt yesterday (Thursday).
Pfandbrief conditions seen easing after buoyant first half
Issuance conditions for Pfandbriefe are expected to remain positive, but ease from this year’s peaks, according to the Association of German Pfandbrief Bank’s latest half-yearly member survey, after the market proved resilient to geopolitical developments in the first half.
EuGB a ‘perfect fit’ for BPCE, debut gets €5bn-plus book
BPCE became the first French commercial banking group to issue an EuGB last Monday, as BPCE SFH sold a €1.5bn 6.5 year that drew a €5bn-plus book and is only the second EuGB covered bond, with the issuer describing the format as a perfect fit given its sustainability efforts and ambitions.
Advantage securitisation, as covered miss risk weight cut
Covered bonds are set to face a risk weight disadvantage relative to the highest quality securitisations after a proposed CRR amendment to improve the treatment of European Covered Bonds (Premium) was dropped from the ECON Committee’s final position on an EU securitisation package.
Recent news
- The German Sparkassen Pfandbrief Roundtable 2026
- Nominations please! The CBR Awards for Excellence 2026
- EMF-ECBC calls for pan-EU mortgage guarantee scheme
- Green bid delights as Nordea leads covereds into EuGBs
- LBBW ups buyback to €1bn as LM combo exceeds hopes
- SR-Boligkreditt sees green a factor in book high, zero NIP
- Arion defrosts Icelandic mart as Aa1 helps it to record book
Latest benchmarks and subs
| ABN Amro | |||
| EUR1.50bn | 3.500% | 2029 | +14bp |
| Mediobanca | |||
| EUR750m | 3.625% | 2029 | +30bp |
| Evangelische Bank | |||
| EUR250m | 3.750% | 2032 | +32bp |
| Spuerkeess | |||
| EUR500m | 3.875% | 2033 | +31bp |
| CBA | |||
| GBP1bn | FRN | 2030 | +51bp |
| Click issuer for more | |||
Categories
Regulation»
11/5/26 •
Advantage securitisation, as covered miss risk weight cut09/4/26 •
EMF-ECBC calls for pan-EU mortgage guarantee scheme16/12/25 •
Key covered bond risk weight halved in ECON draft report
Sterling»
20/1/26 •
Principality covered debut hits targets, adds funding flexibility09/1/26 •
£1bn fixed rate tranche helps Nationwide to sterling high31/10/25 •
Lloyds reaps tight rewards in strong £1bn covered return