Currencies

KfW brought a seven year euro benchmark on Tuesday that equalled for size a similar trade from fellow jumbo issuer European Investment Bank two weeks ago — but topped it for orders and spread.

The Autonomous Community of Madrid has announced that it will sell its third benchmark of 2016.

Bank Nederlandse Gemeenten tapped an August 2026 bond for the sixth time this year, with investors focussing almost solely on the 10 year part of the Kangaroo curve.

The Flemish Community of Belgium has announced that it will roadshow a euro syndication on September 26, while KfW has mandated three banks to sell a benchmark.

The Prince of Liechtenstein's wealth and asset management firm, LGT Group, offered a 10 year bond to the Swiss market on Monday in an attempt to extend to its curve.

Nederlandse Waterschapsbank presented a Kangaroo tap to an expectant Japanese investor on Friday.

Rating: A3/A

Australia on Tuesday announced its intention to issue its first 30 year government bond. After a summer of downgrade threats for the triple-A rated sovereign, it hopes to tempt overseas investors back into its bonds with offers of juicy yields. But market experts are not convinced it will work, writes Silas Brown.

The grins on the faces of Werner Baumann and Hugh Grant, chief executives of Bayer and Monsanto, look genuine enough. The deal they have struck could catapult Baumann to head of the world’s leading agribusiness company and net Grant a reported $226m.

Winsconsin’s Spectrum Brands, the consumer products conglomerate ended a two day roadshow on Wednesday with the sale of euro notes that will repay dollar bonds, an uncommon transaction in the euro market.

Debt collector Lowell GFKL — formed by a merger between the UK’s Lowell Group and Germany’s GFKL Group in late 2015 — hit the road to entice investors into its floating rate notes, which it will use to add a third company to the group, Germany’s Tesch Inkasso.

Rentenbank updated its on-the-run 10 year Kangaroo year note on Wednesday, trying to keep Asian investors interested in this key area in the borrower's funding programme.