Banks
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Deutsche Bank has taken advantage of the addition of more collateral to its Pfandbrief mortgage pool following the merger with the former Postbank entity to issue more than €2bn of retained covered bonds. -
The World Bank impressed with its first benchmark transaction of its new fiscal year this week as it received solid demand despite pricing tightly to match the spread it paid for a five year deal before the outbreak of the coronavirus pandemic.
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TD Securities has appointed Matthew Jaconelli to head up its MTN and niche currency operations in Europe, taking over from Sameer Rehman, who will now focus on financial and corporate issuance.
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Investors turned out in force as KfW brought its first benchmark green bond of the year this week. The strong demand allowed the German agency to print its joint biggest ever green bond on the back of its largest ever order book for such a deal along with an attractive pricing advantage over a conventional bond.
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The Swiss franc market is having a busy year, with a strong showing from corporate and SSA issuers helping the market to its highest year to date volume since 2015, according to Dealogic.
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Invesco changes fixed interest line-up — BofA makes Slowey equities head — NordLB hires two for DCM
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Euro investors are sniffing around further out along the SSA curve, with Euratom returning after a two year absence to print a 10 year bond earmarked to fund power plant safety measures in Ukraine, while the Treasury Corp of Victoria tapped demand past the 30 year point.
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Swedish Export Credit Corporation kept the public sector new issues market open on Thursday as it came with an opportunistic four year dollar trade on the back of a strong week for dollar borrowers.
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Azzurra Aeroporti, an acquisition vehicle that bought a majority stake in a French airport, made its debut in the bond markets on Tuesday, achieving decent demand despite some dire warnings emerging about the medium term future of industries linked to air travel.
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Prosus, the Dutch online consumer and investment company, has mandated banks for dollar and euro bonds. Investors will need to contend with a firm that reported strong full year results up to the end of March but has issued warnings that the coronavirus pandemic has taken its toll since.
