Deutsche Bank
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Demand for ground-breaking covered bonds issued on Wednesday by Deutsche Bank and Danish Ships Finance was adequate but both required hefty premiums — illustrating a higher degree of investor caution than had been expected. -
Credit Suisse has chosen a banker from Deutsche Bank to co-lead its healthcare team in Europe, the Middle East and Africa.
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Oil major BP and motorbike maker Harley-Davidson both hit the euro bond market on Tuesday, in the wake of the European Central Bank’s far bigger than expected first week of corporate bond purchases.
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The European Financial Stability Facility rounded off its 2019 funding programme on Tuesday, but some on-looking bankers remarked that the deal, though fully subscribed, did not reach the issuer's customary high levels of demand. Meanwhile, Erste Abwicklungsanstalt returned to the euro market for the first time since February 2018.
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KfW has mandated banks for its first €STR transaction as it looks to become the third public sector borrower to sell a bond linked to the new euro risk-free rate.
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The Netherlands’ Tennet Holding has increased the size of its bank revolving credit facility to €3bn and linked the margin to sustainability goals, in a deal the electricity transmission system operator says is the largest sustainability-linked revolver in the Benelux region.
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Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.
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Two SSA borrowers are coming to the market for euro deals on Tuesday. The European Financial Stability Facility and Erste Abwicklungsanstalt will both print what are likely to be their final benchmarks of the year.
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The UK Debt Management Office has chosen the banks to lead the re-opening of its 0.125% 2041 index-linked Gilt, which is scheduled to take place next week.
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Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling.
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Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have launched a $500m loan into general syndication, after one bank joined at the senior stage.
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