Europe

Germany’s largest supermarket chain, Edeka, launched a Schuldschein on Tuesday, looking for at least €200m.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, October 12. The source for secondary trading levels is ICE Data Services

Wüstenrot Bausparkasse attracted exceptionally strong demand for its seven year Pfandbrief launched on Tuesday, causing the issuer to increase the deal’s size from an originally planned sub-benchmark size to benchmark. In so doing it further improved the scale and quality of the order book reflecting improved regulatory treatment and index inclusion for the deal.

Swiss biotechnology company Idorsia has opened the books on its Sfr575m ($629m) at-market rights issue to fund the commercialisation of insomnia drug daridorexant.

Agence Française de Développement has unveiled a new broader thematic bond framework tied to the UN's Sustainable Development Goals (SDGs) which will allow it to issue social and sustainable bonds alongside its existing green bonds.

A new music royalties-focused fund is preparing to launch on the London Stock Exchange, having announced its intention to float on Tuesday.

Secondary covered bond market turnover has fallen since the European Central Bank's Covered Bond Purchase Programme (CBPP3) began, with the ECB accounting for an unprecedented proportion of overall turnover, according to a report published in the European Covered Bond Council’s fact book, published last Friday.

The European Central Bank's Isabel Vansteenkiste welcomed a proposal for green Targeted Longer-Term Refinancing Operations (TLTROs) on Monday, but talked through what she saw as some concerns with the idea.

German e-commerce company fashionette, which sells designer handbags and accessories online, has launched an IPO on the Frankfurt stock exchange. Sources close to the deal are hoping that other large e-commerce listings will boost the flotation.

Aeroflot, the flag carrier of Russia, has finished the first leg of a jumbo recapitalisation backed by the Russian government, amid turmoil in the airline industry due to the Covid-19 global pandemic.

KfW mandated banks for a seven year euro benchmark on Monday, a deal which was already expected to arrive this week and could well be the German agency’s final public deal in the currency this year.

Caffil attracted robust demand for its fifth covered bond this year on Monday, thanks to the positive yield on offer at the unusual 15 year maturity. But with a wave of cheap European Union 15 year supply expected to surface before long, other issuers may try to follow Caffil's lead and jump in ahead.