DZ Bank
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Munich Airport has launched a Schuldschein with an initial target of €200m, the first airport to enter the market since a flurry of deals in March as the coronavirus pandemic hit Europe. -
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The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.
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Aareal Bank sold the first bank bond in euros for a week on Wednesday, offering encouragement to other issuers who have remained stuck in the pipeline.
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Guarantor: Federal Republic of Germany
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Rentenbank made an impressive entry to the green benchmark bond market this week with its biggest ever order book in euros by overall size and number of accounts. Head of funding Leopold Olma, who has spent 20 years with the German development agency’s funding team, called it the “ultimate transaction”.
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Rentenbank impressed SSA bankers on Tuesday as rolled out its debut benchmark green bond. The deal is expected to pay no new issue premium at the final spread.
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Rentenbank is moving forward with its plans to issue a debut euro green benchmark bond following a series of investor meetings over the past few weeks.
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Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
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The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.
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The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.
