Commerzbank
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A German agency is set to bring the second dollar benchmark from an SSA this week — quadrupling the number of such deals in September so far. -
Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.
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Kuxtabank this week issued the first Spanish covered bond backed by loans with an environmental, social and governance remit, and the first peripheral 10 year since March.
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Norddeutsche Landesbank and Landesbank Baden-Württemberg coped well with the new rules around debt seniority for German banks this week. Both launched successful senior trades with strong, domestic-led order books after Commerzbank had struggled for demand on Monday
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Statkraft, the Norwegian state electricity company, made a successful venture into an uncertain corporate bond market with a defensive €500m no-grow bond on Monday.
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Norddeutsche Landesbank coped well with the new rules around debt seniority for German banks on Wednesday, launching a cautious, but successful senior trade, which attracted a decent order book.
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Statkraft, the Norwegian state electricity company, made a successfully defensive venture into an uncertain corporate bond market with a €500m no-grow bond on Monday.
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Commerzbank and Banco Popolare both found it difficult to drum up large order books on Monday.
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A flood of banks in the Middle East are set to follow the two Abu Dhabi names which are making a dash for cash in the loans market to meet new regulations as they grapple with low oil prices, writes Elly Whittaker.
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SGL Carbon, the German manufacturer of products from carbon, issued a successful €167m convertible bond on Wednesday morning, and launched the repurchase of an existing CB.
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Abu Dhabi's Union National Bank has closed books for its three year loan and will increase it from the launch size of $500m, according to a banker on the deal.
