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Saturday, 21 April 2018

Merle Crichton' s stories

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  • A man leaves the Commonwealth Bank of Australia building in central Sydney

    CBA picks defensive five-years in covered

    Ticker | 16 April 2018

    Commonwealth Bank of Australia had a smoother rider than fellow non-European Oversea-Chinese Banking Corporation last week, drumming up more than €1bn in orders and moving the spread by 2bp despite the relatively aggressive level.

  • Societe Generale headquarters

    MOVES-Covered bond veteran Ralf Grossmann exits Societe Generale

    Ticker | 12 April 2018

    Ralf Grossmann has left his role as head of covered bond origination at Societe Generale, according to a market source.

  • A man walks past OCBC bank in Singapore's central business district

    OCBC gets the cold shoulder once again

    Ticker | 11 April 2018

    Oversea-Chinese Banking Corporation had to battle hard to sell a covered bond once again on Wednesday, only just about covering its latest euro trade a month after investors gave it the cold shoulder in sterling.

  • Sparebank logo

    SpaBol's switch to fixed fails to excite

    Ticker | 10 April 2018

    SpareBank 1 Boligkreditt switched to a fixed-rate format to offer some diversification after a surfeit of five-year floaters in the sterling covered bond market, but the £250m trade was only just covered.

  • Erste

    Covered bond market at inflexion point

    Ticker | 10 April 2018

    It was off to the races in the euro covered bond market on Tuesday, where banks will price a combined €2.5bn, but oversubscription is limited despite high concessions as secondary levels drift wider.

  • bonds euros yankee

    Rarity no help for BMO sterling covered

    Ticker | 09 April 2018

    Bank of Montreal opted for the most generous starting level seen so far in the saturated world of sterling five-year covered floaters.

  • Generous deals help covered market find firmer footing

    Bonds | 06 April 2018

    Covered bond issuers willing to pay up were rewarded with a warm investor welcome last week, helping the market find a firmer footing after a string of poorly received deals.

  • ING Group logo

    ING makes swooping comeback to covered bonds

    Ticker | 05 April 2018

    A generous 7bp new issue concession helped bolster demand for ING’s first covered bond in nearly five years with orders passing the €2.35bn mark, one of the largest books this year.

  • ABN AMRO bank headquarters

    ABN AMRO scores tightest and largest 20-year covered

    Ticker | 04 April 2018

    ABN AMRO priced the tightest and largest 20-year covered bond in memory on Wednesday, despite having sold a combined €6.25bn of 15-year and longer tenors since the start of 2017.

  • Eiffel Tower

    CoFF coughs up in nod to new reality

    Ticker | 03 April 2018

    Compagnie de Financement Foncier will later price the largest covered bond since January - though it paid up to do so - and riskier formats will follow if the market backdrop allows.

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