Deutsche Bank

In a world first this week, 23-year-old student and Australian retail government bond investor Katta O’Donnell filed a legal challenge against the sovereign on Wednesday, claiming that the government does not do enough to disclose the risks of climate change to investors. If successful, the case could change issuers’ obligations regarding climate risk disclosure.

Deutsche Bank has taken advantage of the addition of more collateral to its Pfandbrief mortgage pool following the merger with the former Postbank entity to issue more than €2bn of retained covered bonds.

Euro investors are sniffing around further out along the SSA curve, with Euratom returning after a two year absence to print a 10 year bond earmarked to fund power plant safety measures in Ukraine, while the Treasury Corp of Victoria tapped demand past the 30 year point.

Reports that the European Central Bank (ECB) could ask banks to suspend dividend payments until the end of 2020 sent subordinated debt higher and stocks lower this week.

The Australian Treasury has chosen the banks that will lead its new June 2051 syndicated offering, which is expected to take place next week.

Credit analysts hope that European banks will be able to report much stronger capital levels in the second quarter, amid early signs that risk-weighted asset (RWA) volumes could be lower than expected.

Russian steel producer Novolipetsk Steel (NLMK) has raised a €600m syndicated loan, as experts say that the continued presence of Russians in the market during the crisis is down to the resilience they were forced to acquire after years of sanctions.

ADO Properties, the German real estate developer, concluded its €450m rights issue on Monday, with a high take-up from its shareholders.

KfW will lead the charge in the euro public sector bond market on Tuesday with a €3bn green bond that will match its biggest ever deal in the format. Eurofima and the State of Berlin are also preparing to bring bonds to the euro market.

Bonds from Indian corporations were among the worst performing investment grade deals in Asia last week. The primary market also suffered, with one deal cancelled and another put on hold.

Hexaware Technologies, an Indian software company majority owned by Baring Private Equity Asia, has mandated nine banks for a $600m take-private loan.

Chinese real estate developer Redsun Properties Group came to the bond market for the second time this year on Thursday, raking in $155m from a tap of its 2023 deal.