DZ Bank
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The European Primary Placement Facility (EPPF), an issuance-as-service platform, has signed up DZ Bank, allowing the German cooperative institution to offer market access to its 250 frequent issuer clients. -
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World Bank cemented its status as one of the leading sterling issuers in the public sector bond market with a record-breaking 10 year deal on Thursday.
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Investors did not want to miss out on the senior bond marketed by KBC Group on Tuesday, as the issuer seized on strong market conditions to extend its credit curve and launch a deal at what many saw as fair value.
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Faber-Castell, the German manufacturer of office supplies, was the second borrower to enter the Schuldschein market in 2020, offering five and seven year notes with a sustainability-linked ratchet on Wednesday.
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Issuers rushed to open the euro covered bond market this week. Trades from ABN Amro, Erste Group and LBBW showed that investors are ready to put cash to work, but higher new issue premiums suggested that issuers were taking a 'conservative' approach at the beginning of the year.
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German grocer Edeka Rhein-Ruhr has signed up to €262.8m of debt from commercial and state banks as it looks to build infrastructure after increasing revenues by 150%.
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DZ Bank has appointed a new head of covered bonds in a move that acknowledges the bank’s growing league table presence in the euro covered bond market, particularly in Canada and Slovakia.
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The positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.
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Bank Nederlandse Gemeenten and Kommuninvest followed in the footsteps of KfW as they included their environmental, social and governance (ESG) ratings in the terms sheets for socially responsible bonds this week, with the latter selling the largest single-issue green bond from a Nordic public sector borrower.
