Germany in the news

  • SSA secondary pricing update: OTFT dual tranche performs strongly

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, September 28. The source for secondary trading levels is ICE Data Services

    • 29 Sep 2020
  • Germany to issue second green bond in November

    Germany’s national debt management agency, the Finanzgentur, has outlined its issuance plans for the fourth quarter, which includes the details of the sovereign’s second ever green bond following its debut deal in the format earlier this year.

    • 29 Sep 2020
  • BNG and Land NRW plan euro sustainable bonds

    After a week without deals, the primary euro public sector bond market will see a return of activity next week with Bank Nederlandse Gemeenten and the State of North Rhine-Westphalia preparing to bring sustainable deals in the currency.

    • 25 Sep 2020
  • Covid-19: SSA response bonds

    Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.

    • 22 Sep 2020
  • ‘Some of the Laender just don’t care’: bankers vent frustration at undersubscribed deals

    A number of syndicated deals from German regions have failed to reach full subscription over the last few weeks. It is not clear whether they will respond by offering greater new issue premiums.

    • 18 Sep 2020
  • Rentenbank EUR1.75bn 0.00% Sep 27 green bond

    • 17 Sep 2020
  • Cades and IDA set new size records

    Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.

    • 17 Sep 2020
  • Rentenbank breaks records with public green debut

    Rentenbank made an impressive entry to the green benchmark bond market this week with its biggest ever order book in euros by overall size and number of accounts. Head of funding Leopold Olma, who has spent 20 years with the German development agency’s funding team, called it the “ultimate transaction”.

    • 17 Sep 2020
  • Cades debuts social framework in dollars

    French agency Cades and the International Development Association returned to the dollar market for the first time since the summer break on Tuesday to bring a pair of five year socially responsible deals.

    • 15 Sep 2020
  • Rentenbank makes ‘outstanding’ green benchmark debut

    Rentenbank impressed SSA bankers on Tuesday as rolled out its debut benchmark green bond. The deal is expected to pay no new issue premium at the final spread.

    • 15 Sep 2020
  • Cades lines up first dollar social bond

    French agency Cades will debut its social bond framework in dollars on Tuesday, less than a week after it raised the largest ever bond in the format with its inaugural issue in euros. It will share the market with the International Development Association (IDA), which is preparing to kick off its 2020/21 funding year with a sustainable development benchmark of its own.

    • 14 Sep 2020
  • Rentenbank readies debut green benchmark

    Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.

    • 14 Sep 2020
  • World Bank takes size as Hamburg lands safely after stumbling start

    Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.

    • 10 Sep 2020
  • Hamburg out early with pricing after announcement error

    The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.

    • 09 Sep 2020
  • CDC mandates sophomore sustainability bond

    French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.

    • 07 Sep 2020

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 38.13 53 9.82%
2 BNP Paribas 33.77 38 8.70%
3 Citi 28.37 40 7.31%
4 BofA Securities 24.15 60 6.22%
5 Barclays 23.07 39 5.94%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 49.69 114 11.73%
2 JPMorgan 37.95 82 8.96%
3 Goldman Sachs 31.30 53 7.39%
4 HSBC 31.15 83 7.36%
5 BofA Securities 30.12 74 7.11%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 59.74 134 8.79%
2 BNP Paribas 52.35 97 7.71%
3 UniCredit 45.65 107 6.72%
4 HSBC 44.16 124 6.50%
5 Credit Agricole CIB 41.92 92 6.17%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 119.79 337 7.52%
2 Citi 105.09 229 6.60%
3 HSBC 92.55 278 5.81%
4 BofA Securities 82.74 225 5.20%
5 Deutsche Bank 73.26 192 4.60%