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Sub practice
Sub practice

Covered Bonds

Allen & Overy is the leading legal adviser in the covered bonds market.

Working closely with the authorities, issuers and investment banks on the implementation of domestic legislation across numerous jurisdictions we have a deep appreciation of the issues encountered in the market and have worked on a variety of structures.

As a result, we have advised on covered bond programmes not only in the core markets in Europe but across the globe both for structured and legislative covered bond transactions. We have a particular track record of advising on the first covered bonds programmes in markets, such as advising on the first covered bond programmes in Australia, Greece, Hungary, Italy, Korea, New Zealand, Switzerland and the UK. We have also acted on the establishment of covered bond programmes in Canada, Finland, France, Germany, the Netherlands, Norway, Spain, Sweden and the U.S.

We also work with the broadest range of assets for inclusion in covered bond programmes including social housing loans, infrastructure loans, shipping loans commercial mortgages as well as residential mortgage loans.

News and insights

Shopping bags

News: 05 August 2022

A&O advises banks in connection with PrestigeBidCo GmbH refinancing

A cross-border team from Allen & Overy has advised a number of banks in relation to the issuance of EUR315 million Senior Secured Floating Rate Notes due 2027 by PrestigeBidCo GmbH (the Issuer), the…

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Publications: 28 July 2022

Equity capital markets in 2022: Europe cools, the Middle East heats up. What next?

The equity capital markets have faced challenging conditions in H1 2022. European markets cooled, the Middle East boomed.

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Publications: 08 July 2022

UCITS investment restrictions rules - the new definition of covered bonds applies to your future investments today

On 8 July 2022, the Covered Bonds Directive (Directive EU 2019/2162) and its implementing law in Luxembourg, the law of 8 December 2021 (the Covered Bonds Law) enter into force and will impact the…

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Publications: 24 May 2022

Changes to Czech Law: Implementation of the Covered Bond Directive

In April 2022, a bill amending the Czech Act No.190/2004 Coll., on Bonds, as amended (the Czech Act on Bonds) passed the legislative process (the CBD Amendment).

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As a result, we have advised on covered bond programmes not only in the core markets in Europe but across the globe both for structured and legislative covered bond transactions.