DZ Bank
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The torrent of ESG supply shows no sign of slowing. Inter-American Development Bank’s debut sustainable development bond is set to come to market on Tuesday in sterling, alongside a sustainability bond from Bank Nederlandse Gemeenten.
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Raiffeisenlandesbank Niederösterreich-Wien (RLB Noe Wien) is looking to raise new senior unsecured funding, as bankers begin predicting a quieter period for supply in the euro market. -
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Nederlandse Waterschapsbank (NWB) failed to reach full subscription for its 15 year water bond this week, with the lead managers having to step in to help the Dutch agency raise €500m. The issuer attributed the lack of demand to the weak eurozone economic data published during book building.
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French agency SNCF Réseau steamed on to screens on Tuesday with initial pricing thoughts for a tap of its December 2047 green bond.
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Lead managers had to step in to help Nederlandse Waterschapsbank (NWB) raise €500m with a 15 year water bond on Monday, though a banker on the deal said that there had been strong demand for the transaction from ESG investors.
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Nederlandse Waterschapsbank has selected banks for a €500m 15 year no-grow water bond, in what will be its longest ever maturity for a green bond.
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German Pfandbrief issuers DZ Hyp and Landesbank Hessen-Thüringen Girozentrale (Helaba) enjoyed strong receptions for their €1bn Pfandbriefe issued this week. Bankers suggested that the German market had a good chance to perform.
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Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.
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ANZ New Zealand was well received after opting for a longer maturity on its return to the euro senior market this week, welcoming €1.2bn of orders for its €500m 10 year.
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Commerzbank attracted only €700m of demand for a €500m non-preferred senior bond this week, with a lead manager suggesting the deal showed the ‘state of the market’ as it welcomes an influx of tightly priced supply.
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Deutsche Pfandbriefbank was marketing a five year senior preferred bond in the euro market on Thursday. The deal was launched at a spread unmoved from price thoughts, with order books only €125m larger than the deal size.
