Six deals that changed the market in 2006
New borrowers are increasingly common in the covered bond market. In 2006 there were 10 new jumbo issuers. Some were simply new names from long-established covered bond jurisdictions such as France, Spain and the UK. Beyond this, though, the geographical expansion of the product to Sweden, Portugal and the USA was a healthy development. But although the appearance of all these new names and countries was important to investors for diversification reasons, it was the arrival of Washington Mutual that broke the mould. ...
