Commerzbank
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South Africa's Investec Bank signed a $635m loan on Friday. The loan is its seventh since the beginning of last year, as it raises funds ahead of potential ratings downgrades. -
The European Investment Bank and the European Union kicked off April by printing impressive benchmark deals, yet despite this strong start to the quarter SSA bankers fear that a combination of the threat of a Brexit and the low yields on offer in the euro market will make conditions extremely challenging for issuers.
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Covered bond borrowers in the UK, Sweden, France, New Zealand and the Netherlands met with strong receptions for their transactions this week, which collectively raised nearly €6bn.
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The Joint Laender reached its 50th deal two months after it was forced to postpone a planned transaction, printing a €1.5bn seven year benchmark that proceeded smoothly this time round.
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Two UK borrowers, Kier Group and Laird, are marketing their first ever Schuldscheine, as UK borrowers return to the market after a long break.
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The European Investment Bank built a book of €8bn for a 10 year Earn on Tuesday as the 10 year Bund yield fell to a 12 month low, leading bankers on the deal to suggest tougher times may lie ahead for euro issuers.
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Private placement specialists are starting to think about convergence between the France-based Euro PP market and Germany’s Schuldschein, according to speakers at Rencontres Euro PP, an industry gathering in Paris on Tuesday.
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A slew of unusual CEEMEA issuers this week announced plans to meet with investors: Global Ports Investments, Kenya, Ahli Bank Qatar and Alternatifbank. Some are specified as non-deal meetings while others are focussed on specific deals.
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German wind turbine manufacturer Nordex has become the first borrower to issue an accredited green Schuldschein, leading the way for more deals to come.
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Will euros or dollars dominate SSA bond issuance in the second quarter? Debate over the direction of primary markets broke out this week with issuers scheming arbitrage trades in euros, while others believe the dollars will win out. Craig McGlashan reports.
