NordLB top stories

• NWB and Brandenburg take spotlight in euros as ADB lines up

  

  Nederlandse Waterschapsbank and the State of Brandenburg took advantage of a lack of euro SSA supply this week to bring well subscribed deals on Tuesday. The Asian Development Bank will be looking to follow with a 10 year euro benchmark on Wednesday.

  • 21 Jan 2020

• Lower Saxony kick-starts euro SSA market as EIB preps sterling reopener

  The Federal State of Lower Saxony sold the first euro public sector benchmark of 2020 with a well received 10 year deal on Thursday. Meanwhile, the European Investment Bank is keeping to tradition of beginning its benchmark funding for the year in sterling.

  • 02 Jan 2020

• Riveting year ahead for covered bonds in QE-warped market

  Covered bonds performed well in 2019, but yields finished in negative territory and spreads ended at their tightest for the year. The implication is that, despite higher than expected ECB covered bond purchases and a renewal of its ultra-cheap TLTRO facility, investors will struggle to match 2019’s returns in 2020, writes Bill Thornhill.

  • 13 Dec 2019

• NordLB bail-out plans are free of state aid, says European Commission

  The European Commission will allow a group of public institutions in Germany to inject €2.8bn of capital into the troubled German lender NordLB, after finding that its recapitalisation plans conformed to EU rules on state aid.

  • 06 Dec 2019

• IG bond buyers kick back after ‘exceptional’ year

  Corporate bond investors in Europe have enjoyed an “exceptional” year, according to analysts at one bank, with significant spread tightening in all sectors, even though negative yields have become increasingly common again.

  • 04 Dec 2019

• Intesa, BNPP build blowout books for SRI senior deals

  Intesa Sanpaolo and BNP Paribas hurried to make use of strong market conditions this week, building blowout order books for a pair of new senior deals in socially responsible formats.

  • 27 Nov 2019

• BBVA and DNB work on MREL with pref senior

  BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.

  • 07 Nov 2019

• EU readies €150m MTN

  The European Union sent round a request for proposals (RFP) on Tuesday to dealers ahead of a €150m 15 year trade, following on from the EU’s €20m return to the MTN market last month.

  • 05 Nov 2019

• Montepio and NordLB Lux line up in covered bonds

  Caixa Economica Montepio Geral (Montepio) mandated leads for the second Portuguese covered bond of the year on Tuesday, and NordLB Luxembourg has signaled its intention to press ahead with its debut renewable energy covered bond following a roadshow.

  • 05 Nov 2019

• Euro SSA short end heats up amid ALM demand

  The short end of the euro curve is becoming the new sweet spot for public sector borrowers, according to SSA bankers, despite the deeply negative yields in these maturities. The European Stability Mechanism (ESM), Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) are all enjoying strong outings with three or five year tenors this week.

  • 24 Oct 2019