DekaBank
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◆ Ten year Länder paper widens against KfW ◆ Deal strikes balance between size and price ◆ Investors on board despite deeply negative OAT spread -
◆ First public SSA euro bond in weeks ◆ Deal has an unusual tenor ◆ Pricing ‘couldn’t have gone much tighter’
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◆ Savings banks interested in novel technology ◆ ‘Vivid’ secondary market anticipated ◆ Lack of LCR and ECB eligibility a hindrance
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Issuer discusses options for rest of 2024 funding
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‘Still some work to be done’ in bond market’s digital transition
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Agency is now 65% funded with another deal planned for a couple of months’ time
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Investors are cautious but the deal is “a good test" of the current environment
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Tone is ‘not exactly great’ for the primary SSA market this week
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Issuer decided not to delay but leads say ‘something’s missing’ about the market
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Issuers stick to the Länder rule book to maximise pricing
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French agency capitalises on rare capital market visit
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Widening Bund swap spreads draws bid back to paper
