Overview

Following the financial crisis and the adoption of Basel III and the related bail-in framework, covered bonds remain a very popular financing alternative for issuers around the world.  In recent years, additional jurisdictions have adopted covered bond legislation in order to facilitate the issuance of these securities.  The Covered Bonds Handbook provides an overview of relevant legal issues for practitioners and market participants, including by:

  • Showing how covered bonds have been prominent financing tools in Europe for centuries
  • Discussing the many benefits of covered bonds, including advantages over securitization and comparative funding costs
  • Explaining how covered bond transactions are currently structured in a number of jurisdictions
  • Providing a comparative analysis of the jurisdictional framework for covered bond issuances
  • Detailing how foreign banks offer covered bonds into the United States
  • Discussing the need for U.S. legislation to codify the treatment of covered bonds
  • Detailing the credit ratings methodologies of Moody’s, Fitch, and Standard & Poor’s with regard to covered bonds

 

Written by contributors from around the globe, and edited by leading authorities on sophisticated financing techniques from Mayer Brown LLP, Covered Bonds Handbook makes a clear and compelling case for these alternative funding instruments, showing you how covered bonds:

  • Offer issuers the opportunity to diversify their funding sources at competitive rates
  • Give issuers additional operational flexibility
  • Deliver the needed transparency that enables investors to assess relevant risks
  • Avoid bail-in
  • Feature a dual-recourse structure
Publication Date: August 2010
Last Updated: August 2014
ISBN: 9781402412943
Page Count: 1,712 pages
Number of Volumes: 2
Contents