DZ Bank
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Issuers are set to gravitate towards selling higher yielding regulatory debt in the post-summer issuance window, so that they can attract investors and compensate for low overall interest rates. But FIG bankers are unsure what concessions will be needed to get deals away. -
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Schleswig-Holstein stretched its euro curve out by a decade on Wednesday, as market participants warn that the world of positive yielding German sub-sovereign debt is shrinking.
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The Federal State of Schleswig-Holstein has mandated for a 20 year euro trade, as eurozone rates continue to squeeze tighter.
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Fraport, which operates Frankfurt airport and has stakes in several other airports, has entered the Schuldschein market for a second time this year, with an initial target of €200m.
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LBBW extended its non-preferred senior curve with a new green bond this week, hitting lead managers' price expectations in spite of soft market conditions.
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DZ Hyp managed to build a substantial book in little time on Tuesday for its second 10 year Pfandbrief of the year, with demand fortunately swelled by an overnight rise in yields.
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The European Union (EU) began its funding for the year on Wednesday, later than other public sector borrowers. With a €250m syndication to finance disbursements to Tunisia and Jordan as it adapts to a smaller borrowing programme.
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German agriculture, energy, logistics and services group BayWa printed a €500m five year green bond on Monday, building a strong €750m book — despite some ambiguity about how to treat the unrated corporate.
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Dutch agency BNG via DZ Bank has placed the first ‘smart n-bond’, a Namensschuldverschreibung (NSV) issued through digital platform European private placement facility (eppf). Participants hailed this transaction as a step towards a functioning pan-European private placement market.
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This week is set to be busy in Europe's investment grade corporate bond market, despite yet another dead day on Monday because of public holidays. Equities rose on Monday and sentiment is good; market participants have decided they are comfortable with what they got from the European Central Bank on Thursday.
