COVERED BONDS

摘要

Books for covered deals from Swedish covered BOND CORPORATION and UNICREDIT BANK AUSTRIA failed to pass the €lbn mark last Tuesday, a rude awakening for a market that had hitherto appeared immune from volatility elsewhere. Demand for UniCredit Bank Austria's no-grow €500m eight-year, its third covered helping this year, reached only €835m (€35m JLM), while SCBC's €500m 10-year was barely oversubscribed with final interest of €600m-plus.