Germany

Agricultural giant's first syndicated deal replaces bilateral facilities

Germany receives lukewarm demand with auction of new 10 year green Bund

Rating: Aaa/AAA/AAA

Germany cruises through positive yielding 30 year deal

The margin on the loan is the latest to be linked to third-party ESG ratings

Banks are seeing light at the end of the tunnel as they emerge from major cost cutting exercises at the same time as economies around the world begin to emerge, erratically, from pandemic restrictions. Now the question is whether there will be enough capital markets business to go around.

KfW cut a lone figure in the quiet summer bond market on Wednesday, launching a tap of a 2030 line and securing a well subscribed book.

The Schuldschein market is counting on a late summer pick-up in issuance to make up for a barren first half of the year. If deals do not pick up, the market could reach only €14bn of issuance in 2021, half its volume in 2017.

Lazard has hired a former Citigroup banker to run its equity capital markets advisory practice for Germany, Austria and Switzerland.

KfW is marketing a tap of a green Kangaroo in the short end of the curve in what will be the third deal from a public sector borrower in the Australasian bond markets this week.

RBC Capital Markets has hired three women to its European global equity sales business at director level in London and Frankfurt.

Guarantor: Federal State of North Rhine-Westphalia