Schuldschein shrugs off Nordic bank dressing down from ESMA

The European Securities and Markets Authority recently fined a clutch of Nordic banks for breaking credit rating regulations. The decision could have implications for the Schuldschein market — where arranging banks issue similar ratings to investors.

• 09 Aug 2018

If it ain’t broke, don’t regulate it

The European Securities and Markets Authority’s (ESMA) decision to fine five Nordic banks last week has raised two questions: just how consistently will rules be applied across Europe, and is it even appropriate that they are?

• 02 Aug 2018

HSBC throws hat into Schuldschein ring, launches digital platform with ‘gatekeeping’ focus

HSBC Germany has launched a digital platform for Schuldschein issuance called Synd-X, following in the footsteps of Helaba and LBBW. But unlike its German peers, it aims to preserve the role of banks as gatekeepers to the market.

• 05 Jul 2018

LBBW draws deeper and more diverse demand for green Pfandbrief first

LBBW’s debut green Pfandbrief attracted a larger order book from a wider set of international investors compared with a vanilla deal, suggesting the bonds have good scope to perform relative to ordinary deals.

• 18 Jun 2018

LBBW to issue its first green Pfandbrief

LBBW has mandated leads for its first Pfandbrief secured on green mortgages. The transaction follows a similar deal last week from DNB Boligkreditt and comes after LBBW’s inaugural green senior deal launched in December 2017. Several other covered bonds are expected next week.

• 15 Jun 2018

Land Berlin EUR1bn 1.3% Jun 33

• 07 Jun 2018

Arms race in Schuldschein mart as LBBW launches tech platform

LBBW and the Stuttgart Stock Exchange have created a Schuldschein digital technology platform called Debtvision, with all the grand ambition and fanfare that Helaba exhibited when launching its rival VC Trade system in March. Whether the town is big enough for the both of them remains to be seen.

• 07 Jun 2018

Berlin scoops €1bn at 15 years

The Federal State of Berlin printed a 15 year trade on Wednesday — its first €1bn bond since 2015, according to Dealogic. The trade was joined by a five year from Corporación Andina de Fomento.

• 06 Jun 2018

German investors show deal was Würth waiting for

German screws and fastenings wholesaler Würth this week found its domestic investor base had stayed loyal after a three year hiatus from the corporate bond market. However, it also found material offshore interest too.

• 17 May 2018

Pfandbrief issuers could look away from euros

Deutsche Pfandbriefbank (PBB), which completed its second euro benchmark Pfandbrief of the year this week, is expected to consider issuance in dollars or sterling, as are other German issuers that have big foreign currency assets.

• 16 May 2018