German Sovereign
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Public sector borrowers are piling into the dollar market at the start of the week, with a US Federal Reserve rate decision on Wednesday likely to shorten the issuance window. -
The Flemish Community of Belgium has announced that it will roadshow a euro syndication on September 26, while KfW has mandated three banks to sell a benchmark.
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Rentenbank updated its on-the-run 10 year Kangaroo year note on Wednesday, trying to keep Asian investors interested in this key area in the borrower's funding programme.
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HSH Finanzfonds printed its first ever public bond on Tuesday, attracting strong enough demand for two rounds of price tightening.
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Canada Pension Plan Investment Board will sell its first ever bond on Tuesday, and HSH Finanzfonds mandated what will be its longest dated bond ever.
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The sterling market for public sector borrowers woke from its summer slumber with a bang this week, as a series of issuers approached the currency in a variety of ways and for different reasons.
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KfW this week added its name to a run of offshore renminbi issuers over the last few weeks, with investors appearing to be keen for paper that can offer a yield of over 3%.
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KfW has printed a large MTN in Norwegian kroner, as bankers reported an uptick in international investors betting on a rise in the currency.
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FMS Wertmanagement’s Jens Remmers is taking on a new position within the German agency’s group, becoming treasurer of Depfa Bank.
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After another week of a super solid dollar market, public sector bankers are starting to refer to the currency as “darling” — and all the signs suggest that the relationship is set for an extended honeymoon.
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The dollar market is set to remain the “darling” — in the words of one syndicate banker — currency in the coming weeks, after a trio of strong deals on Wednesday.
