DZ Bank
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Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors. -
Muenchener Hypothekenbank (MuHyp) sold the longest covered bond of the year so far this week, and bankers expect more long end deals to follow.
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Oberbank is preparing to launch a sub-benchmark non-preferred senior deal into a quiet FIG market that has not seen a senior deal since Tuesday.
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DZ Bank said this week that it will redeem eight tier one bonds issued out of special purpose vehicles, in preparation of the EU’s Capital Requirements Regulation transition period ending.
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Europe’s investment grade corporate bond market continued its blazing start to the year on a busy Tuesday with trades coming flat to or through secondary curves, and syndicate bankers say the blistering momentum is set to last throughout January.
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Two banks landed tight with environmental, social and governance (ESG) themed deals this week: Crédit Agricole settled at a record low on its social bond debut, while DZ Bank came even tighter with its first senior non-preferred green bond.
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Intesa Sanpaolo paid a visit to the MTN market this week to print a rare, privately placed tier two deal in euros.
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Crédit Agricole landed at an extremely tight level on Wednesday morning as it made its social bond debut with a seven year senior non-preferred deal, following in the footsteps of last week's near zero yield print from Svenska Handelsbanken.
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Sub-benchmark deals are not so much of a novelty anymore: a trio of rare names filled their boots with diminutive deals this week, with each attracting bumper demand.
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As benchmark issuance remains on the side-lines, smaller issuers have come out to play, with rare borrowers Cassa Centrale Raiffeisen dell’Alto Adige and Luminor Bank on the hunt for deals Lilliputian in size on Tuesday. A handful of larger issuers are keeping a close eye, and could come to the market with small deals of their own in the coming weeks.
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The European Union received strong demand as it tapped a June 2035 line on Wednesday to finance loan disbursements under its Covid-19 Macro-Financial Assistance (MFA) programme.
