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Canadian Registered Covered Bond |
Latest coverage of Canada:
CIBC gives gallic shrug as €1.25bn 5.5s prove tempting 7 October 2025
A five-and-a-half year covered bond for CIBC stayed the course in the face of renewed French political turmoil and rates volatility yesterday (Monday), as the Canadian bank raised €1.25bn (C$2bn) at a minimal new issue premium on the back of a peak €2.4bn of demand.
Trio show size and price back on table post tariff turbulence 29 April 2025
The success of new euro benchmark covered bonds for CCF, CIBC and SEB today suggests issuers can target similar outcomes to those achieved before the Trump administration’s tariff moves destabilised markets, according to syndicate bankers, after Iccrea restarted supply yesterday.
CIBC finds receptive mart as it finds room for euro return 27 September 2024
CIBC in ‘smooth’ €1.25bn 5s return amid modest pipeline 23 September 2024
HSBC’s French covered now chez CCF, while RBC gets nod 4 January 2024
Laurentian covered AAA on review at DBRS after ‘adverse events’ 1 December 2023
High €1.5bn RBC 5s maintain unseasonal hot streak 18 July 2023
CCDJ 5s kick off post-Easter deals, Portuguese due back 11 April 2023
ANZ, BMO, SHB sell 2s to 5s as reopening gathers pace 28 March 2023
‘Disciplined’ CIBC confident in covered reopening ability 28 March 2023
CIBC €1.5bn covered reopens euro FIG, lifting supply hopes 27 March 2023
Covered ready for anything as TD takes €5bn, RBI hits 3s 7 March 2023
BHH shows life after CBPP3, HSBC Canada joins in fives 28 February 2023
DZ Hyp green 3s ‘go ballistic’ as BNS opens non-EZ supply 9 January 2023
RBC, BMO back for Canadian last hurrah in dollars, sterling 9 December 2022
Bankinter cédulas due after short-dated Desjardins, HVB 21 November 2022
Issuers face uphill battles in ‘exhausted’ covered market 18 May 2022
Green stands out as supply nears €100bn, Sabadell due 17 May 2022
TD in euro return via €2.5bn fives amid Canadian boom 18 March 2022
HSBC SFH, RBC comfortable in euros, San UK in Sonia fillip 15 March 2022
Issuers hit window, playing safe with clear, chunky NIPs 8 March 2022
CIBC goes short and large in €2.5bn fours euro reopening 3 March 2022
BMO, BNS reopen covereds in sterling, dollar benchmarks 2 March 2022
CCDJ shows market still ripe with fives as tight as peers 1 February 2022
NBC takes €1bn inside BMO, RBC despite fives deluge 20 January 2022
BMO €2.75bn biggest euro since 2006 as fives blow out 19 January 2022
Spread rise clear as CA sells 11s, but RBC sets euro high 18 January 2022
BNS combo mitigates volume, ABN, LBBW evince curve fads 17 January 2022
CIBC rewarded with bumper book for 2022 dollar opener 13 January 2022
YBS £500m social strong as first sterling five in two years cheered 11 January 2022
RBC adds £750m in Sonia 5s, CFF, SMTB join euro queue 12 October 2021
CCDJ, pbb take $750m each as dollars enjoy $5bn week 7 October 2021
CBA takes size in euro return, CCDJ, pbb in USD post BNS 6 October 2021
‘Amazing’ Scotiabank $3.5bn fives break US dollar records 5 October 2021
BNS dollar 5s open October supply, Vorarlberg, Vest due 4 October 2021
Argenta gets €2bn book for 20s, CIBC adds €1bn in fives 29 September 2021
RBC takes out €1.25bn as Argenta, ING-DiBa join pipe 28 September 2021
Slowdown likely after NBC, Stadshypotek add supply 24 September 2021
De Volksbank shows long end alive and kicking with 20s 8 September 2021
RBC sets five year covered high as Canada ‘normalises’ 8 September 2021
Investors spoilt for choice as trio hit euros and more due 7 September 2021
Canadians social distance in four-currency covered spree 7 September 2021
Unusual double-A Equitable sub first expected next week 31 August 2021
Equitable targets early fall debut after CMHC approval 28 July 2021
Bank of Canada adds USD Canadian covered to Standing Liquidity Facility 23 July 2021
RBC refines Sonia 5s model, rare MüHyp fixed sterling due 6 July 2021
CIBC sets $2bn high in first dollar benchmark since Feb 30 June 2021
CIBC follows BNS into Sonia, gets £1.25bn on bigger book 16 June 2021
‘Awesome’ £1.3bn BNS fives set sterling high, beat euros 14 June 2021
NIPs edge down on BMO 8s, Aegon 15s to test long end 1 June 2021
Laurentian debuts locally on mortgage goals, OSFI moves 3 May 2021
CIBC cites tight levels in post TLAC euro covered return 30 April 2021
CIBC in ‘super-strong’ €1bn eights, Laurentian passes EQ 22 April 2021
Big book helps CCDJ set tight Canadian level on €500m 5s 30 March 2021
Scotiabank targets Sonia switch for £550m FRN 4 March 2021
Equitable Bank readies €250m covered bond debut 11 February 2021
RBC strategy queried while trio confirm strength of mart 19 January 2021
CCDJ $750m threes reopen dollars with $1.75bn book 30 September 2020
Trio successfully end jumbo week, albeit with less ‘fizz’ 17 September 2020
HSBC Canada reopens USD at tighter level, bigger book 8 May 2020
HSBC Canada set to reopen dollars at healthier levels 5 May 2020
BNS €1.25bn tap astounds, but deemed realistic vs. peers 9 April 2020
OSFI gives Canadians extra 4.5% scope for BoC repo 30 March 2020
Name, better conditions help TD outdo BNS in dollars 27 March 2020
BNS seizes on turnaround to reopen dollar covereds 25 March 2020
Orders down on CIBC €750m but end to repricing cited 20 March 2020
Axa underwhelms in wake of PEPP; BMO, TD play it safe 19 March 2020
RBC gets away with €1bn at a price, but TD calls off Sonia 17 March 2020
Dislocations manifest as BNS fives reflect need for ‘humility’ 11 March 2020
RBC £1.25bn non-UK sterling record sets Sonia fives tight 23 January 2020
RBC €1.5bn impresses inside BNS in non-EZ fillip 13 January 2020
Fantastic four find strong bid for euro market reopeners 7 January 2020
CA eyes green covered debut, FCDQ mandates euro eights 18 November 2019
Sterling proves competitive for CIBC £500m Sonia debut 21 October 2019
CBA draws $2bn bid to $1.25bn threes after Canadian series 9 October 2019
RBC £1bn international Sonia fives first draws £1.25bn bid 27 September 2019
RBC, FCDQ overcome dollar wobbles to complete threes 20 September 2019
FCDQ plans dollar return after roadshow 10 September 2019
HSBC Canada boosts base as roadshow helps $1bn 3s 5 September 2019
Equitable programme to take covered to Canadian mid-tier 22 August 2019
HSBC Canada mandates post-roadshow three year dollar 21 August 2019
CIBC matches biggest foreign deal in Australian reopener 25 July 2019
Green Berlin Hyp, TD sell eights amid big yield bounce 10 July 2019
BHH eights to extend negative covereds after DZ opts for 10s 9 July 2019
SG French green first feels positive impact of strong mart 8 July 2019
CIBC sees positive appeal of eights in euro covered return 5 July 2019
Santander pick-up sought after, CIBC extension pays off 3 July 2019
CIBC set to open H2 with meagre yield on eights 2 July 2019
TD sells biggest non-UK Sonia, with euros on pause 17 June 2019
Bawag validates 15s, Aareal out to 8s, RBC sees sensitivity 12 June 2019
DBRS rains on Canadian parade after OSFI calculation revision 6 June 2019
TD’s €1.75bn inside peers but price sensitivity in evidence 4 April 2019
Near-indiscriminate buying helps five compress NIPs 22 January 2019
Latest supply suggests new equilibrium being reached 8 January 2019
BNS, BayernLB well received after limiting spread from start 4 January 2019
BMO stars with EUR1.25bn return as big book limits NIP 3 January 2019
SG takes EU750m, weak mart constrains HSBC Canada 20 November 2018
Lloyds in rare UK $750m deal, DZ Hyp euro debut due 5 November 2018
BNS sets non-EZ 2018 high, EUR1.75bn 5s at low NIP 16 October 2018
RBC EUR1.5bn lifts mood, SG shows short sweet for EZ 30 August 2018
HSBC Canada approved for covered bonds, cites flexibility 21 August 2018
NBC gets euro savings in 5s, bail-in influences Canadians 17 July 2018
CIBC ends US dollar drought with $1.75bn threes 21 June 2018
All falls into place for RBC return, Dt Hypo demand modest 21 June 2018
RBC takes £750m in follow-up to TD 1 June 2018
TD celebrates covered hits in funding hat-trick 1 June 2018
TD £1bn ‘peach’ breaks size record in swift follow-up 31 May 2018
TD adjournment vindicated as EUR1bn clears in stabler mart 30 May 2018
TD ‘parked’, Oberbank sub succeeds amid Italy ‘mayhem’ 29 May 2018
Swiss franc pricing advantage on show in CIBC CHF150m 17 April 2018
‘Sensible’ BNS EUR1.25bn rewarded with order influx 21 March 2018
NBC seals EUR750m 7s, Canadian supply surpasses 2017 6 March 2018
HSBC incorporates Canadian covered bond company 20 February 2018
TD shows sterling demand steadfast with FRN fives 22 January 2018
CIBC EUR1.25bn shows fives in demand after rate rise 17 January 2018
BNS ‘solid’, BayernLB next as mart unperturbed by yield rise 12 January 2018
RBC shows international compression vs. UK in sterling 1 December 2017
BMO ends Canada drought at tight, biggest euro since May 19 October 2017
Treasury proposals offer SEC-registered glimmer of hope 11 October 2017
CIBC A$700m FRN ‘optimal’ with broad domestic demand 31 August 2017
CIBC follows DBS, opens Aussie dollar long threes 30 August 2017
CIBC $1.75bn return timely, while Canadian capacity rises 27 July 2017
CIBC returns to US dollars with 5s after two years away 20 July 2017
BMO £800m FRN biggest non-UK sterling since 2014 11 July 2017
Fixed rate £525m first a ‘show of faith’ in CIBC 10 July 2017
TD Eu1.25bn boosted by upturn, Canadian absence 23 March 2017
Axa, LF in euros tomorrow after TD in £250m long fives 6 March 2017
Canadian Bankers Association calls for raising of low 4% cap 1 March 2017
RBC takes Label into Americas, waves Canadian flag 17 January 2017
TD matches BMO with $1.75bn fives 10 January 2017
BNS in ‘emphatic’ euro fives, TD chooses dollars 9 January 2017
CBA, pbb add to sterling arb wave, BMO shows dollar depth 5 January 2017
BMO opens dollars, RBC attracts £550m to fixed sterling 4 January 2017
CIBC opens sterling with FRN fives, attracts £250m 3 January 2017
Tighter Canada lending rules could help covered, says Fitch 14 October 2016
Stars align for BMO, allowing chunky Eu1.75bn at slim NIP 13 October 2016
NBC rides post-FOMC relief with 7s, Cariparma mandates 22 September 2016
BNS impresses by taking £500m in rare fixed rate sterling 7 September 2016
CIBC takes negative yield plunge after rates ebb 19 July 2016
CIBC gets ‘ambitious’ price for £250m tap on strong bid 8 July 2016
Canadian dollar potential seen in light of TD first, regs boon 6 July 2016
BMO to price year’s tightest dollar, BRFkredit on road 8 June 2016
SEC-registered retreat seen as Reg AB II obstacle nears 6 May 2016
TD euro highlights Canadian tightening, BNS US landmark 20 April 2016
BNS reopens dollars at 2016 tight, but likely wide to euros 19 April 2016
Niche A$400m lets CIBC meet limited need, affirm commitment 13 April 2016
BMO impresses with slim NIP, Eika due tomorrow 12 April 2016
MüHyp faces moving yields for 10s, DNB 7s tick boxes 11 April 2016
RBC $1.75bn priced inside peer, on a par with euros 15 March 2016
Hopes still up despite modest Helaba 6s, RBC in dollars 14 March 2016
TD $1.75bn fives show US dollar option viable 8 March 2016
Bankers advise sealing deals pre-ECB, BNS deemed blip 4 March 2016
BNS shows market not plain sailing, CIBC taps sterling 3 March 2016
RBC in Eu1.5bn at low NIP, after busiest start since 2011 26 February 2016
Canada’s OSFI to consult on covered-related encumbrance in 2016 13 January 2016
BNS £400m gets size, but sterling ‘returns diminishing’ 7 January 2016
BMO ‘shines’ as covered bond mart proves resilient 7 January 2016
LBBW, TD tick boxes, Caffil cites good start 6 January 2016
CIBC beats January rush in euros, extends to return to Swissies 9 December 2015
CIBC Eu1.25bn reopens threes after ECB surprise 7 December 2015
CCDQ finds right price for Eu1bn post-roadshow return 19 November 2015
RBC $1.75bn reopener follows spreads wider 7 October 2015
BMO Eu1bn seven year seen as slow, Canadian glut cited 14 September 2015
Bankia, LBBW, BMO restart mart with euro trio 28 July 2015
Helaba 4s ‘solid’, further Germans eyed in heavy July 22 July 2015
Recovery sealed by smooth BNS, BPCE, Commerz fives 16 July 2015
Lloyds resonates well as Westpac joins reopening 15 July 2015
LBBW Eu750m hits window, Canadians in sterling, dollars 14 July 2015
Latest Bund back-up casts shadow over RBC sevens 10 June 2015
TD pleased with outcome after braving untested market 9 June 2015
CIBC returns to Kangaroos with A$300m five year FRN 8 June 2015
CIBC back in Australia, Yorkshire to hit the road 3 June 2015
NBC in modest US threes, BayernLB $500m Eurodollar 14 April 2015
TD back for more sterling, BNS in one-size-fits-all dollar 8 April 2015
TD dollar, Lloyds sterling steal show from euros 27 March 2015
RBC C$2.2bn landmark finds new loonie covered buyers 20 March 2015
Collateral a Canadian strength as Moody’s sees weaknesses mitigated 17 February 2015
RBC opens dollars with $2bn after basis swap moves 30 January 2015
CIBC happy with pre-ECB result, fives seen preferred 22 January 2015
CIBC comes inside BMO with pre-ECB Eu1bn fives 21 January 2015
CGD returns into slowing mart, BMO debut in sterling 20 January 2015
Commerz, NBC find takers, CGD due, but pace eases 19 January 2015
2015 supply hits extremes as quartet make it 14 15 January 2015
Covered shrug off wider weakness, CRU mandates 14 January 2015
Westpac set for first euro test, CIBC saves in sterling debut 7 January 2015
Scotia Eu1.25bn threes break trend, £250m FRN added 28 October 2014
Coventry beats Nationwide with Eu500m in fourth 7s 24 October 2014
TD joins non-EZ sevens for Eu1bn, Coventry next up 23 October 2014
CCDQ back with Eu1bn fives, in CIBC’s wake 15 October 2014
CIBC benefits from timing, happy with Eu1bn at flat 9 October 2014
TD’s $1.75bn 144A finds buyers, but needs pick-up 19 September 2014
RBC bigger and tighter as dollar flurry hits $4.5bn 17 September 2014
TD goes big in the UK, adds £900m to FRN 3s supply 12 September 2014
Demand dynamics shift as Aareal, BNS add new angles 10 September 2014
BNS goes public in US with five year, inaugural SEC issue 4 September 2014
TD finds ‘perfect’ opportunity after lengthy preparations 22 July 2014
TD Eu1.75bn debut gets year’s biggest Canadian book 21 July 2014
TD eyes euro legislative debut, Helaba doubles 2021s 17 July 2014
Canada, cédulas feed supply rejigs, TLTRO impact ‘feared’ 16 July 2014
CMHC registration tees up TD covered bond return 26 June 2014
RBC reduces size standards to reflect larger deals’ performance 16 June 2014
RBC back with smaller, wider 5s, but NIP limited 12 June 2014
Canadian regulator says covered LCR Level 2A eligible 3 June 2014
BMO happy with “robust” book for inaugural legislative covered 30 April 2014
Surprise CFF joins BMO for solid supply restart 29 April 2014
BMO soon, Swedes eyed after senior kickstarts FIG 28 April 2014
BMO joins ranks of Canadian legislative issuers after CMHC OK 15 April 2014
BNS gets ‘right price’ to debut as tightest Canadian of year 26 March 2014
NBC adds investors, extends curve in well-prepped euro return 19 March 2014
Credit Suisse trades tighter, CCDQ ‘rock solid’ after wait 7 March 2014
CS in biggest 2014 deal as mart displays robustness 5 March 2014
CFF in convincing return, CCDQ seals euro debut 4 March 2014
CCDQ nears as mart seen open despite Crimea tension 3 March 2014
CCDQ gives investors more time after announcing debut 27 February 2014
CCDQ plans euro, legislative debut amid Canadian ‘flurry’ 26 February 2014
Moody’s sees new BMO, TD programmes amid Canadian rebound 14 February 2014
CCDQ legislative programme gets CMHC approval 31 January 2014
S&P withdraws rating of CIBC legacy programme, AAA affirmed 13 January 2014
NBC copes with timing, spreads to sell Eu1bn debut 10 December 2013
NBC deal decision nigh as final 2013 opportunities seen 9 December 2013
RBC AAA affirmed before S&P withdraws rating 3 December 2013
ECB confirms Canadian covered status in collateral framework 5 November 2013
Nordic imminent as NBC preps euro, legislative first 4 November 2013
RBC back for more, Bank Austria finds open lines 22 October 2013
CIBC Kangaroo FRN ticks size, pricing boxes 22 October 2013
RBC returns to US for $2bn in fives 25 September 2013
CIBC returns to euros from ‘position of strength’ 1 August 2013
CIBC pre-blackout move confirms Canada appetite 31 July 2013
RBC pulls A$1.8bn in welcome Kangaroo debut 30 July 2013
Australian dollars latest stop on RBC funding spree 29 July 2013
S&P ups NBC on higher systemic importance 26 July 2013
RBC gets size after ‘off the charts’ starting point 25 July 2013
BNS programme registered under new Canada law 23 July 2013
RBC opens new Canadian era with $1.75bn three year 17 July 2013
Summer lull sets in but good case for CIBC return 15 July 2013
Canadians return to Europe as CIBC mandates roadshow 10 July 2013
CIBC, RBC first into CMHC register, BMO goes SEC 4 July 2013
BNS gets go-ahead for fully SEC registered covered bonds 3 June 2013
Canada framework shuts out small banks, deters innovation, says DBRS 3 May 2013
Canadians rejig programmes, mull docs, eyeing H2 return 19 March 2013
RBC D-Cap stays after appeal despite change delay 15 February 2013
Moody’s cuts six Canadians by one notch, but cites strengths 29 January 2013
CMHC finalises framework with ‘serious’ enhancements 18 December 2012
RBC prices second SEC registered deal, KBC awaited 30 November 2012
Peers weigh formats while in limbo after stars align for RBC 21 September 2012
RBC nets ‘large and diversified’ book in first ever SEC-registered covered 13 September 2012
RBC SEC-registered deal hits screens but euros quiet 12 September 2012
RBC clears final SEC hurdle, spread benefit expected 31 July 2012
Credit union expansion under Canadian changes has pros and cons 20 July 2012
Dollar benchmark league table H1 2012 5 July 2012
Canadian lending rules could have positive spillover 26 June 2012
Canada expects no CMHC covered while regs drafted 19 June 2012
Dollars possible ‘near term’, TLGP roll-off could help 8 June 2012
CMHC CEO sees pluses in bill, but offers few clues 24 May 2012
RBC’s SEC move raises questions over US progress 23 May 2012
RBC move points to pros and cons of full SEC registration 21 May 2012
RBC in line for first fully SEC registered covered bond 19 May 2012
S&P sees protections reinforced in Canadian bill 17 May 2012
Canada movement soon, OC situation welcomed, but unknowns remain 4 May 2012
Radical change for Canada on law to ban CMHC cover 27 April 2012
Canada to prohibit insured collateral for covered bonds 26 April 2012
Canada budget anti-climactic, but CMHC to get ‘administrator’ role 30 March 2012
Race or downtime? Canadian law’s potential supply and pricing impact in focus 28 March 2012
Swedbank out, BNS $2.75bn as Canadian law looms 16 March 2012
Scandis could follow US hits as buyer base broadens 7 March 2012
Canadian flows to ease despite new names, says S&P 7 March 2012
TD covered is 2012’s biggest, CBA combo pulls $8bn 6 March 2012
CBA combo draws pricing focus, TD seen in dollar push 5 March 2012
DBRS cites US influence on doubling of Canada’s covered bonds 22 February 2012
RBC commits to defending covered bonds at Aaa with OC if necessary 20 February 2012
CMHC ceiling could affect Canadian programmes, law, says Fitch 7 February 2012
Canada considers stopping CMHC-insured cover pools 25 January 2012
CIBC gets 2011 hat-trick amid dollar funding flux 6 December 2011
BMO grabs $2bn ahead of EU meet and Aussie ‘wave’ 27 October 2011
Canada serious about legislation, Senate the ‘real story’ for US 16 September 2011
DBRS sees solid credit story sustaining Canadians’ US push 26 August 2011
Canadian appeal helps BNS break US impasse 27 July 2011
Euro return plausible as basis swap eases for Canadians 22 June 2011
Moody’s sees OC snag, cites exceptions in Canadian plans 17 May 2011
Canadians welcome legislative covered bond proposals 13 May 2011
Canada releases covered bond consultation paper 12 May 2011
Primary quiet after euros and largest, longest loonie 24 March 2011
DBRS targets detail, clarity in updated Canada approach 22 March 2011
National Bank of Canada files US$5bn programme 18 January 2011
