Komerční banka €5 billion mortgage covered bond programme

Overview:

• Czech bank Komerční banka established a €5 billion mortgage covered bond programme and issued a €500 million bond under it on international markets.
• The bank was the first non-sovereign Czech issuer of euro denominated debt and secured negative yield with the issue.
• The bonds were rated AAA by Fitch, listed on the Luxembourg Stock Exchange, and have a five year maturity, extendable by one year. 

Tal Friedler - Researcher