UniCredit Czech and Slovakia makes international debut
UniCredit Czech and Slovakia has set the final spread for the first covered bond to be backed by a mix of Czech and Slovakian mortgages. The bond has been expected since the borrower first met investors on a roadshow in November.
SG issues retains €5bn covered bonds
Société Générale issued and retained over €5bn of covered bonds, spread over eight deals with maturities between six and 15 years on Monday. The supply provides contingency backstop liquidity for the bank, and forms a normal part of its liquidity management activity.
KBC returns for negative spread
KBC priced its second €1bn covered bond of the year on Wednesday, this time opting for a 2021 which fits neatly into the borrower’s maturity profile and dips into mid-swaps negative territory for the first time. The deal also priced almost flat to its curve.
Sparebanken Vest pays no concession
Sparebanken Vest Boligkreditt priced the first Norwegian covered bond of 2015 flat to its existing curve on Wednesday. The deal illustrates that rare issuers from core regions are still able to get superb execution despite the more skittish tone in credit markets lately.
Van Lanschot makes successful debut, prices flat to NIBC
Van Lanschot Bankiers printed its inaugural conditional passthrough covered bond on Tuesday. A good quality book and a well flagged deal helped the issuer price flat to NIBC’s recent trade. Bankers said it paid a minimum market entry premium to make a successful debut.
Nationwide goes for funding full house with sterling FRN
Nationwide Building Society is continuing its funding run after already setting a strong precedent in 2014. The bank has priced its first sterling covered bond of 2015 following an earlier euro covered bond, a multi currency RMBS and two senior deals issued this year.