Europe
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Slovenia took advantage of low euro funding costs this week to prudently manage its debt by swapping out of dollars and into euros. -
DG Hyp and Deutsche Hypo launched the only two benchmark covered bonds of the week, and though both deals were priced tightly, they attracted a lot of demand.
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By 2018, the European Commission will review the resolution directive that came into effect at the start of this year. In light of Italian banks’ recent struggles, maybe it's already time for a rethink.
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Deutsche Bank made an encouraging return to the euro tier two market on Thursday, but the hefty spread on offer suggested investors were still a little wary about the credit.
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Investors in the IPO of Moneta Money Bank — the biggest in Emea so far this year — have made nearly a 10% return on their money, after the shares traded up for the fifth successive day on Thursday, despite a fall in profits.
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Central and eastern European sovereign bond issuers can more and more rely on rates investors to come into their bond deals. But many of these borrowers are still handled by investment banks’ emerging market teams. So when is an issuer SSA rather than EM?
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Water management provider Suez Environnement on Thursday launched the only deal of the day, a €500m note that printed with a small new issue premium.
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L-Bank printed a five year deal on Monday as the sterling market kept up solid momentum from last week.
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KfW built a more than 2.5 times subscribed book on Thursday for its longest dated green bond ever, drawing praise despite tightening pricing by more basis points than is typical for the issuer.
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The European Bank for Reconstruction and Development printed a $500m floating rate note on Thursday in the week’s third deal in the format.
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TSB Bank is planning to hit the market with its second UK prime RMBS deal, following its first quarter results which showed strong growth in its mortgage lending.
