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Novobanco is present in the market with the issuance of 500 million covered bonds

Novobanco is present in the market with the issuance of 500 million covered bonds

The bank is offering 500 million euros in covered bonds – debt securities secured by a group of assets – with a maturity of three years, according to Bloomberg.

Novobanco has a problem Covered bonds Three years for 500 million euros as a reference.

Information released by Bloomberg and confirmed by Jornal Economico. Novobanco has appointed Barclays Bank as global coordinator and Structuring consultantBarclays, Credit Agricole CIB, Deutsche Bank, IMI-Intesa Sanpaolo and LBBW as joint lead managers to lead the management of the inaugural €500 million issue. don't grow, Three years ago, “RegS Nominative dematerializad, Soft bullet “Covered liabilities,” states the technical paper for the issue.

That is a €500 million deposit in covered bonds – debt securities secured by a pool of assets – with a maturity of three years, according to Bloomberg.

The coverage pool consists of 100% Portuguese residential real estate loans.

According to Bloomberg, the process should be classified with evaluation Aaa by Moody's The transaction must be rated Aaa by Moody's and must be eligible by the European Central Bank for the LCR.

The deal will be launched and priced in the near future depending on market conditions, with no date set.

The target market is qualified counterparties and professional clients (all distribution channels) interested in European covered (preferred) bonds.

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