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Investors push back over NordLB’s legacy bond termination
A group of bondholders is threatening legal action against NordLB, claiming the German lender is acting in bad faith by trying to terminate its silent participation capital notes.
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AT1 extension risk at rock bottom as Handelsbanken calls deal
Svenska Handelsbanken has become the latest European bank to put out a call notice for one of its additional tier ones. Market participants are expecting a clean sweep of redemptions for the asset class this year.
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Altitude Infrastructure gets €266m loan funding
Altitude Infrastructure, the French telecoms company, has signed a €266m credit facility, which it will use for two fibre optic networks.
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Brandenburg undersubscribed for 25 year deal as Land NRW hits screens
The State of Brandenburg failed to reach full subscription for a new 25 year trade on Wednesday as it priced at an exceptionally tight level to its secondary curve.
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Pfandbrief unflustered as NordLB subsumes Deutsche Hypo
The combination of Deutsche Hypo into NordLB has failed to cause much of a stir in the covered bond market as, even though the merged cover pools will be very different, spreads between their Pfandbrief curves have little room for manoeuvre.
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SSAs storm back into euro market amid strong backdrop
Public sector borrowers wasted no time in getting back to business in the euro market in 2021 with one live deal and four mandates all hitting screens on Monday as issuers look to take advantage of an almost full trading week and a supportive market to make a dent in their brand new funding programmes.
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Investors fret over NordLB Lux as wind-down looms
Investors holding the covered bonds issued by NordLB in Luxembourg said on Wednesday that they were concerned about prospective rating downgrades after the bank said it would be wound down and in the wake of Fitch’s announcement on Tuesday that it had withdrawn its covered bond rating.
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KfW readies seven year euro benchmark
KfW mandated banks for a seven year euro benchmark on Monday, a deal which was already expected to arrive this week and could well be the German agency’s final public deal in the currency this year.
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KfW rumoured for next week as Saxony sells only half of seven year bond
KfW could be set to hit screens with a euro benchmark next week in what may be its final public deal in the currency this year, according to bankers. The bond is likely to come with a seven year maturity, a tenor that the Free State of Saxony struggled with on Thursday, finishing with the book only around half covered.
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World Bank takes size as Hamburg lands safely after stumbling start
Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
NordLB In The Key League Tables
Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
---|---|---|---|---|---|---|
|
||||||
Bookrunners of Euro Denominated SSA (Excl US Agency) | 23 | 22 | 1.25 | 8 | 0.62% | 0.87% |
Bookrunners of Euro Denominated Covered Bond Above €500m | 21 | 15 | 0.31 | 1 | 1.90% | 2.80% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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IADB USD4.25bn 0.875% Apr 26
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Land NRW USD1.75bn 1% Apr 26
-
Spain EUR6bn 0.85% Jul 37
-
Austria EUR4.5bn 0% Apr 25m, EUR2bn 0.7% Apr 71
-
EFSF EUR4bn 0% Jul 26
-
World Bank USD3bn 0.125% Apr 23 sustainable development bond, USD5bn 1.375% Apr 28 sustainable development bond
-
BNG EUR2bn 0.125% Apr 33 sustainability bond
-
Rabobank EUR750m 3.1% PNC Dec 28 AT1
-
Berlin Hyp EUR500m 0.375% Apr 31 sustainability-linked senior
-
Italy EUR7bn 0.25% Mar 28 tap, EUR5bn 2.15% Mar 72
-
KfW EUR4bn 0% Jun 29 green bond
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ADB USD5bn 1% Apr 26
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Portugal EUR4bn 0.3% Oct 31
-
Macquarie Bank GBP400m 1.125% Dec 26 senior
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Santander Consumer Bank EUR500m 0.125% Apr 26 senior
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 92.59 | 388 | 8.96% |
2 | Citi | 85.30 | 278 | 8.25% |
3 | BofA Securities | 63.15 | 265 | 6.11% |
4 | Barclays | 58.01 | 223 | 5.61% |
5 | Deutsche Bank | 55.74 | 184 | 5.39% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 60.87 | 123 | 14.06% |
2 | Credit Agricole CIB | 28.59 | 93 | 6.60% |
3 | Santander | 25.41 | 90 | 5.87% |
4 | JPMorgan | 23.88 | 61 | 5.52% |
5 | UniCredit | 21.51 | 103 | 4.97% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Goldman Sachs | 2.07 | 11 | 10.42% |
2 | BofA Securities | 1.40 | 6 | 7.01% |
3 | Citi | 1.37 | 7 | 6.87% |
4 | Morgan Stanley | 1.36 | 6 | 6.85% |
5 | JPMorgan | 1.31 | 7 | 6.59% |