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Covered Bond Congress 2024



Panel III: Why is it so difficult to price a covered bond now?

12 Sep 2024
Initial price talk and pricing are frequently far apart, and bonds are coming through ‘fair value’. What has changed in the covered bond market and how should issuers price their bonds now?
  • Is secondary still a good indication of fair value? And if not, why not?
  • Too tight / too wide: Asymmetrical outcomes and reputational risk
  • Are syndicate structures fit for purpose?
  • The syndi-bot desk: Technology to the rescue?
Cristina Costa, Director, Covered Bonds/ SSA Research - Barclays
Vi Davda, Head of Bond Origination - ABN AMRO
Julien Marchand, Managing Director, Financial Markets, Head of Origination, FI/SSA - NORD/LB
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