Germany
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Sterling is set to play a bigger part in the socially responsible bond market as a result of incoming reforms that are putting the pressure on UK pension funds to focus on environmental, social or governance (ESG) factors in their investments, writes Burhan Khadbai. -
The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark this week as investors braced themselves for the European Central Bank’s meeting on Thursday, in which it laid down the groundwork for a rate cut in September and additional quantitative easing.
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Deutsche Kreditmarkt-Standards (DKS), a German industry body, held a conference call with Schuldschein participants on Thursday afternoon to discuss restructuring in the Schuldschein market, and whether there is a case for a standardised collective action clause.
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A treasury head at a German agency, which he helped set up from scratch, has left after nine years to return to the banking sector.
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Few German IPOs are expected in the second half of the year and the deteriorating economic outlook is likely to disrupt the equity financing plans of the country’s corporates, particularly mid-cap industrial names that are heavily exposed to their home market.
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NRW.Bank had the dollar market to itself this week, and issuance is expected to continue trickling next week with Ontario Teachers’ Finance Trust poised with a trade.
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Investors in a rare block in Hugo Boss, the German fashion house, sold by Xinglee International Development on Tuesday night, have made strong profits in trading.
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NRW.Bank is taking indications of interest on a five year benchmark trade, though syndicate bankers still expect there to be a fizzle rather than a bang of SSA dollar issuance this week.
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Investors brushed off the coronation of a new pro-Brexit prime minister in the UK on Tuesday to pile into a KfW trade and set a new size record for the sterling SSA green bond market.
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The State of North Rhine Westphalia was flooded with demand for its 30 year euro benchmark on Tuesday as investors braced for the European Central Bank's meeting on Thursday, in which it is expected to lay the groundwork for a rate cut in September.
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German car parts maker ZF Friedrichshafen, which issued the largest ever Schuldschein in late 2015, is set to make a grand return to the market this year.
