DZ Bank
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AIB Mortgage Bank attracted robust demand for its €1bn seven year covered bond issued on Thursday, and WL Bank also did well despite the difficult 10 year tenor and measly spread.
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The State of Baden-Württemberg announced on Tuesday its intention to print a 10 year euro benchmark in a week in which investors await a decision on Thursday from the European Central Bank regarding interest rates. -
Five issuers from core Europe priced covered bonds this week but the standout success, which could have been priced without the European Central Bank’s help, was the first Austrian deal of the year from Erste Bank.
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Kathrein, the German communications technology manufacturer, has signed a €350m revolving credit facility for refinancing purposes.
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Wind turbine company Nordex signed €1.4bn in loans on Tuesday. The five bookrunners flexed to accommodate a planned acquisition, in what was intended to be a plain refinancing.
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DZ Bank has placed a five part inaugural additional tier one (AT1) transaction within its co-operative bank network, which it said opens the door to a mid-size investor base for the product in Germany.
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A trio of issuers from Finland and Sweden raised €3.5bn of funding in the covered bond market this week with strong receptions and limited spread concessions.
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Financial institutions have begun a final push for funding as year-end approaches, with investors still looking to boost returns with higher beta purchases.
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DZ Bank has placed a five part inaugural additional tier one (AT1) transaction within its co-operative bank network, which it said opens the door to a mid-size investor base for the product in Germany.
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Tightly priced and low yielding Pfandbriefe issued this week by HSH Nordbank and Deutsche Hypo received less demand than usual, with HSH failing to attract enough attention to cover its deal.
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Landesbank Baden-Wuerttemberg (LBBW) went for size on Thursday as it was set to print a €500m tap of its outstanding September 2017 floating rate notes, bringing the total outstanding debt to €1.15bn.
