Europe
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Nationale Nederlanden Bank has mandated leads for a 10 year euro denominated conditional pass through (CPT) covered bond and Aareal Bank has issued a fixed rate sterling Pfandbrief.
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BPCE brought out its first social bond from a relaunched sustainability framework on Monday, with proceeds targeting local economic development. It broke the record for the size of a social or green bond issued by a European bank. -
Dexia Crédit Local and CPPIB Capital released initial price thoughts on Monday for their new five year dollar benchmarks amid what bankers called a "good backdrop" for the maturity. Both deals are due to be priced on Tuesday.
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Bank of Ireland announced plans on Monday for its second senior holding company bond in two months, but unlike its peer Allied Irish Banks it is turning to the dollar market to complete the trade. The mandate was another sign of issuers continuing to believe the market remains open.
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The name Covivio Hotels is new to the corporate bond markets, however the company behind the brand is not. Formerly known as Foncière des Murs, the hotel investment company sold its first bonds under its new name on Monday.
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Germany’s largest gas transmission system operator Vier Gas wasted no time on Monday in launching a €500m 10 year corporate bond deal it had marketed to investors last week. The demand it received justified that move.
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The Russian central bank announced a 25bp rate hike on Friday in a move calculated to offset the effect of expected US sanctions.
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Groupama Assurance Mutuelles was marketing a new 10 year bullet tier two on Monday, with Phoenix Group Holdings hoping that market conditions will remain strong for a similar trade that it is planning to bring this week.
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Assets allocated to US exchange traded products and funds hit a record high in August, after assets left the space when volatility returned to US markets in February.
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Belarus’s state-owned BeIinvestbank is in talks to raise a €50m syndicated loan, in a rare international deal for the country.
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The French region mandated banks on Friday for its first green and social bond, which has been targeted for the long end of euro curve.
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