Germany

Investors proved they were able to digest KfW's largest green bond yet on Tuesday. Deals in the billions of euros are set to become the norm for the Issuer as it looks to size its green trades closer to its conventional benchmarks.

LBBW's second green senior bond, issued on Wednesda,y was comfortably oversubscribed and had many more orders than its debut deal, even though the market backdrop was more volatile this time round. At the same time Westpac New Zealand mandated leads for a roadshow ahead of its own debut green senior bond.

Shares in HelloFresh, the Frankfurt-listed online meal kit delivery company, rose by 2.6% on Tuesday after Rocket Internet sold all its remaining shares in the company in response to a number of reverse inquiries from institutional investors.

KfW picked banks on Tuesday to lead its largest ever green bond. The deal will come from its recently updated green framework, which includes funding for energy efficiency projects, in addition to the renewable energy sector in Germany.

Vonovia, the German residential property company, returned to the market on Monday to sell €744m of new shares on an evening where markets had largely sold off because of fears about growing tensions between the US and China.

UniCredit Bank AG (HVB) and Hypo Vorarlberg Bank AG are expected to open books on Tuesday for Pfandbriefe in the 15 and eight year tenors. The longer deal follows a series of other long-end trades and may be followed by more, as borrowers take advantage of remarkably strong market conditions to do their most difficult deals.

KfW aims to boost its issuance of green bonds after updating its programme to include funding for energy efficiency projects, in addition to the renewable energy sector in Germany.

Hamburg Commercial Bank is looking to land a debut senior bond in the euro market in May, hoping to open a new chapter in the history of the restructured HSH Nordbank. But the institution may find it difficult to move on, with a group of influential investors angry over previous management decisions threatening to derail the deal.

France and Germany have proposed to extend France’s model for a financial transactions tax (FTT) to all EU countries willing to participate, allocating the revenues to the EU’s budget, according to a Franco-German document seen by GlobalCapital.

NRW.Bank mandated banks on Wednesday for a 10 year euro bond, in what is the agency’s first benchmark since rules were changed to allow the bank to be dissolved by law only.

Shares in Siemens rose by 4.3% on Wednesday morning after the German engineering conglomerate released its second-quarter earnings and announced it plans to spin off its gas and power business.

The City of Hanover is returning to the Schuldschein market with a dual tranche, long dated deal, around a year after it became the first city to issue a green Schuldschein.