German Sovereign
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Guarantor: Federal State of North Rhine-Westphalia
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The German state of Hesse was marketing its new green bond framework this week ahead a of a debut deal in the format. -
Greece and NRW.Bank added to the week’s primary euro public sector supply on Wednesday ahead of a closely watched European Central Bank governing council meeting on Thursday.
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KfW sold its first Sonia floating rate note on Wednesday, with the deal pricing at the tightest ever spread for the product in syndicated format.
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The State of North Rhine Westphalia launched a dual tranche bond on Thursday, having postponed the deal due to last week’s crowded and volatile market.
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Three public sector issuers hit the market with euro deals on Tuesday, but each opted to raise €500m or less. Their success could embolden Land NRW to return with its deal, but the market has yet to be tested by an issuer of its class.
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Two SSA issuers were expected to follow Tuesday’s outing in euros from the EU, but only one elected to brave the market on Wednesday.
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CDP Financial, one of Canada's largest public pension asset managers, joined three other public sector borrowers in the dollar market on Tuesday to sell its debut green bond.
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