Europe

DFS Deutsche Flugsicherung, the German air traffic controller, launched a Schuldschein deal on Monday, on the hunt for at least €250m.

The European Bank for Reconstruction and Development (EBRD) hit screens with a $1bn three year on Monday.

The UK Debt Management Office (DMO) has updated its remit to include an additional £50bn of borrowing by the end of August. However, investors had expected details of the sovereign’s borrowing ambitions up to the end of September.

DirectBooks, which plans to bring a new issuance platform for bond markets, has not ruled out the possibility of a partnership with other providers.

The UK’s new insolvency law came into force on Friday, and lawyers have been spending the weekend picking through its 250 pages to understand the implications. While some have welcomed it, others pointed out that in its haste to push it through Parliament, the government has introduced several changes that skew the balance between various kinds of lenders which hitherto had been treated equally.

Korean Housing Finance Corporation (KHFC) has launched its second social covered bond of the year in euros, setting the spread for its deal in the middle of its guidance range.

NN Bank unveiled plans on Monday to issue its first covered bond from its newly published soft-bullet programme. At the same time, Berlin Hyp has mandated lead managers for the sale of a new green covered bond.

Hannover Re gave away a bit of premium for a new tier two this week, after it touched on the lower bound of the spreads available in the market for insurance capital.

The European equity capital markets are bucking wider equity market fears over a second wave of coronavirus infections in the US and bankers hope sentiment will hold even if global equity indices become more volatile.

Turkey Export-Import Bank has raised a €380m loan with a partial guarantee from the World Bank. The deal complements a successful first half of the year for Turkish lenders in capital markets, in which almost all the top tier banks have raised loans.

Two more bankers have ditched NordLB to take on DCM roles at Helaba, as the firm looks to expand its covered bond business.

German biotechnology company BioNTech has raised $225m via a private placement led by Singaporean sovereign wealth fund Temasek, amid growing investor appetite for biotech investments due to the Covid-19 pandemic.