Editorial

23 Nov 2014 Raiffeisenbank a.s. - EUR Denominated Czech Covered Bonds

EUR Denominated Czech Covered Bonds - Raiffeisenbank a.s. issued EUR denominated Czech covered bonds aimed at the international market. The covered bond market has had net negative supply for the last few years as eurozone banks have been deleveraging on the one hand and utilising other sources of liquidity on the other. The ECB's announcement in September 2014 of its third Covered Bond Purchase Programme has compressed primary market yields even further for eurozone issuers. The Czech issuance indicates issuers from outside the eurozone will also enjoy favourable conditions due to spill-over effects as investors look to diversify away from crowded eurozone trades. (Allen & Overy advised the Arrangers).

Financial Centre : London
Law Firm : Allen & Overy
Lawyer : Sally Onions

Practice Area : Debt Capital Markets
Classification : Securitisation and Structured Finance
Sub-classification : Covered Bonds
Industry : Banks

Advised Party : Arranger
Value : 100.01-500.00

Assets Jurisdiction : Czech Republic
Issuer Jurisdiction : Czech Republic