Deutsche Bank

The Republic of Indonesia kicked off its 2021 bond issuance this week with a $3bn deal in dollars, split across 10 year, 30 year and 50 year notes, as well as a €1bn tranche.

Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.

The dollar SSA market leapt into action on Tuesday with an impressive deal from the European Investment Bank. Two more are set to follow on Wednesday, including a 10 year benchmark.

A pair of senior non-preferred bonds from Swedbank and Société Générale on Tuesday followed Monday’s opener from ING. With three household names now having established pricing points, rarer borrowers are starting to fill the pipeline.

The Republic of Indonesia, a keen issuer in dollar and euro markets, launched a euro-denominated benchmark bond on Tuesday, jumpstarting its funding for the year.

American insurers Metropolitan Life and Athene Holding had a busy start to the year as they tapped the sterling, euro and dollar markets to issue a quartet of funding agreement backed (FAB) securities.

Chinese property borrowers reopened Asia’s primary dollar bond market on Monday, with four issuers raising nearly $2bn between them following solid demand from investors.

BMW set Europe's investment grade corporate bond market off to a flying start for the year on Monday, printing €1.5bn of debt at or inside fair value. A range of borrowers are said to be lining up trades in the German vehicle maker's slipstream.

The European Investment Bank made a blazing start on Monday in tackling its 2021 borrowing programme, hitting the Australian dollar and sterling markets on Monday, and lining up a dollar deal for Tuesday.

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.

Ex-UBS banker Leonardo Doser has joined Deutsche Bank as head of markets distribution for Switzerland.

The European Central Bank's various purchase programmes are set to continue shaping covered bond issuance next year, but away from the reach of the ECB, more niche markets are expected to flourish. Collected below is a selection of GlobalCapital’s covered bond outlooks for next year.