Germany in the news

  • SGP locks in ‘strategic’ 50 year green as SSAs pile into SRI

    Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.

    • 13 Feb 2020
  • SGP takes size with 50 year green as Munich brings city first

    Société du Grand Paris impressed the SSA market on Tuesday with a series of superlatives. It sold its biggest ever bond with the longest ever maturity for a syndicated green bond in any asset class. The City of Munich hit another landmark with the first social bond from a European city.

    • 11 Feb 2020
  • SGP and Munich to set new landmarks in SRI bond market

    Société du Grand Paris and the City of Munich will break new ground in the socially responsible bond market this week as the pipeline for green and social debt from public sector borrowers builds.

    • 10 Feb 2020
  • KfW EUR5bn 0% Feb 23

    • 06 Feb 2020
  • Slew of dollar paper hits SSA market

    Three SSA issuers brought dollar deals to market on Wednesday, hitting screens in a variety of formats and tenors, making the most of excellent conditions to pull off impressive deals. A fourth is lined up for Thursday.

    • 05 Feb 2020
  • Finland smashes book record with positive-yielding 16 year

    Finland received record demand for its first syndication of the year on Tuesday. The sovereign was joined in the long end of the curve by the State of North Rhine Westphalia as it tapped its February 2038s.

    • 04 Feb 2020
  • Finland and Land NRW jump to long end amid Coronavirus rally

    The Republic of Finland and the State of North Rhine Westphalia hired banks on Monday to prepare syndicated bonds at the long end of the euro curve. Yields of eurozone haven assets remain compressed while fears of the coronavirus outbreak intensify.

    • 03 Feb 2020
  • EU regulations could slow €STR growth

    Few MTN issuers have so far issued in the Libor-replacing euro short term rate (€STR) format, with deals limited so far to supranationals, agencies and, this week, a sub-sovereign. Some bankers blame the 2017 EU Prospectus Directive for tightening up the rules on adding new indices to programmes, leaving non-exempt issuers on the sidelines.

    • 30 Jan 2020
  • ECB toes dovish line, launches strategic review, borrowers steer clear

    The European Central Bank launched a strategic review of its monetary policy strategy on Thursday, but otherwise kept its fairly dovish stance on eurozone rates more or less unchanged.

    • 23 Jan 2020
  • NWB and Brandenburg take spotlight in euros as ADB lines up

    Nederlandse Waterschapsbank and the State of Brandenburg took advantage of a lack of euro SSA supply this week to bring well subscribed deals on Tuesday. The Asian Development Bank will be looking to follow with a 10 year euro benchmark on Wednesday.

    • 21 Jan 2020
  • KfW USD5bn 1.625% Feb 23

    • 16 Jan 2020
  • Full dollar curve explored by strong SSA market

    The dollar SSA bond market, unfettered by geopolitical volatility, enjoyed an excellent week, although it is still lagging behind the euro market in terms of overall supply.

    • 16 Jan 2020
  • Tight dollar successes for KfW and Canada

    KfW and Canada both launched dollar benchmarks on Wednesday, bringing a pair of highly subscribed and tight deals. Following their success, two Asian SSA issuers prepare to join the busy dollar market.

    • 14 Jan 2020
  • Finanzagentur sure green Bunds will be liquid

    Germany’s debt management office, the Finanzagentur, is confident its green bonds will be liquid when the first issue is launched in the second half of 2020 and has high hopes that they will trade tightly relative to ordinary Bunds. Its innovative plan to use a “twin bond” structure is designed to reassure investors and remove any doubt about liquidity.

    • 09 Jan 2020
  • Land NRW EUR1.3bn 1.375% Jan 20

    • 09 Jan 2020

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9.54 14 13.14%
2 Citi 6.29 8 8.67%
3 Goldman Sachs 6.07 9 8.37%
4 BNP Paribas 5.58 9 7.69%
5 SG Corporate & Investment Banking 5.00 5 6.89%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 11.30 20 13.25%
2 JPMorgan 8.31 15 9.74%
3 Goldman Sachs 5.78 14 6.78%
4 Morgan Stanley 5.76 11 6.75%
5 BMO Capital Markets 5.74 10 6.73%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16.07 24 10.86%
2 BNP Paribas 11.39 20 7.69%
3 HSBC 10.83 24 7.32%
4 BofA Securities 10.00 23 6.75%
5 UniCredit 9.73 24 6.57%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26.62 57 9.35%
2 Citi 21.30 46 7.48%
3 HSBC 18.33 53 6.44%
4 BofA Securities 17.47 51 6.14%
5 Goldman Sachs 16.82 33 5.91%