Germany
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As its profile grows, the Schuldschein market is attracting a healthy supply of new issuers. Increasingly, these come from abroad, but banks are still finding a good number of German companies to woo to the market for the first time, like DIC Asset this week. -
Acciona nabs €155m from green Schuldschein - Places for People seals €150m private placement - Germany’s Badenova sells Schuldschein - Pershing Square nabs $400m in bond private placement - Claranova debuts in euro PP market - Pension Insurance Corp puts £40m into Scottish housing association - Oman's Octal raises $625m for expansion
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LBBW extended its non-preferred senior curve with a new green bond this week, hitting lead managers' price expectations in spite of soft market conditions.
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Aroundtown, the German property developer, has raised €600m to finance the acquisition of more properties after its latest capital increase attracted significant demand from investors, despite headwinds facing the German real estate sector as a result of a looming rent cap in Berlin.
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Muenchener Hypothekenbank (MuHyp) was set to issue a $600m three year Reg S dollar Pfandbrief on Tuesday, at close to the tightest levels seen this year and with exceptionally strong demand. The stellar outcome encouraged Lloyds Bank to announce a follow-on deal of its own.
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German power company Badenova closed a four tranche Schuldschein transaction last week.
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Acciona, the Spanish infrastructure and renewable energy company, appealed to investors with its green, triple tranche Schuldschein offering, which closed last week at €155m.
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Deutsche Bank may devote more resources to its Schuldschein business after its restructuring and cutting of its equities business, a senior banker has said, though it does not plan to hire any extra staff in the area.
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Muenchener Hypothekenbank has mandated lead managers to execute a new Reg S dollar Pfandbrief. The deal follows a series of German dollar covered bonds issued at the short end of the curve this year.
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Bank of America Merrill Lynch has hired a senior banker from UBS to manage its equity capital markets business in the German-speaking region.
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Debt investors are looking at the leveraged bid for German retailer Metro AG by two private investors with uncertainty. Many questions remain about the outcome of the proposed deal, including the fate of Metro’s existing debt.
