Germany
-
◆ Final book under €800m ◆ 'Low single digit concession' ◆ 'Trickier' for German LBs in senior than covered -
◆ New issue premium estimated ◆ Partial pre-funding ◆ Baden-Wuerttemberg 'through fair value'
-
◆ Attractive pick-up to KfW and other peers ◆ Atypical tenor no trouble ◆ SSA appetite strong
-
British-German publisher is a first-time Schuldschein issuer
-
◆ Tight deal secured despite equity volatility ◆ Demand stronger at the short end ◆ Proceeds will 'prudently' refinance upcoming maturities
-
◆ Final book over €2.5bn for €500m deal ◆ 'Reconfirmation' of strong background for credit ◆ Lead tells issuers 'print now if you're ready'
-
◆ Reoffer yield second lowest of the year ◆ Euro hybrid yields tear tighter ◆ Proceeds to refinance upcoming maturity
-
Lower rates and ample cash reserves could drive deal momentum
-
Orders five times the original deal drove size boost
-
Short-dated, highly rated SSAs could trade tighter amid hopes of the US government shutdown ending
-
◆ Dealers slow to adjust Länder secondary pricing ◆ 'A lot of discussion' on order updates ◆ Covereds trade tight to Länder
-
◆ Pricing 'close to fair value' ◆ Deal finishes subscribed ◆ PBB no problem for SSAs
