Spain’s Liberbank is preparing a debut public covered bond issue following a roadshow starting tomorrow (Thursday), while Danske is set to issue a Finnish benchmark in the near future for the first time since 2015 and UniCredit Bank Austria plans a roadshow after a similar absence.

Danske Bank reorganised its Finnish activities so that its Finnish issuer changed over from Danske Bank plc to Danske Mortgage Bank plc last year. The last benchmark from the legacy issuer was a EUR1bn five year in November 2015.

Danske announced today that it has mandated BNP Paribas, Danske, Natixis, NatWest and UniCredit to lead manage a five year euro benchmark, rated Aaa, in the near future.

The last Finnish benchmark was a EUR1bn seven year for OP Mortgage Bank at 2bp through mid-swaps in May.

Liberbank today announced plans for an inaugural benchmark covered bond after a roadshow running from tomorrow until Tuesday. It has mandated BBVA, Commerzbank, Crédit Agricole and UBS for a planned intermediate maturity euro-denominated cédulas hipotecarias benchmark, with expected ratings of A1/A (high) from Moody’s and DBRS.

The Spanish bank has previously participated in multi-cédulas.

The last Spanish benchmark was a EUR1bn 10 year for Santander on 18 October at 22bp over mid-swaps, while Deutsche Bank SAE sold a EUR1bn March 2024 issue at 27bp over on 4 September.

UniCredit Bank Austria is planning covered bond-related investor meetings, with a deal possibly to follow, but has not mandated leads. Its last benchmark was a EUR500m seven year in September 2015, while its German counterpart sold a EUR750m seven year just yesterday.

HSBC Bank Canada held investor calls yesterday (Wednesday) ahead of its debut covered bond, a 144A/Reg S three year fixed rated benchmark. HSBC, CIBC, Commerzbank, Lloyds, Natixis, ING, RBC, Scotiabank and UniCredit were mandated.