Germany
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JP Morgan has raised €400m by issuing a cash-settled bond, exchangeable into shares of Siemens, at an extremely aggressive price level. The purpose of the deal is not clear. -
Hot on the heels of its senior non-preferred last week, LBBW has mandated leads for a three year green Pfandbrief. The Korean Housing & Finance Corporation (KHFC) is also preparing issuance, after mandating leads for a roadshow with plans to issue a euro covered bond.
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Private debt loans in brief Mercon brews sustainability loan Transocean digs into more revolver liquidity Munich’s public service arm switches to sustainable loan
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KfW and the World Bank brought well received socially responsible bonds to the market this week that set new landmarks for the public sector borrowers.
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The frenetic pace of buying seen in covered bonds issued earlier this month may have ebbed as rates market volatility has increased, but Thursday’s dual tranche offering from ING DiBA showed that demand is still vigorous.
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Hamburg Commercial Bank priced its inaugural public bond on Thursday, a preferred senior deal which seemed to be unaffected by the litigation threat the bank is facing as it attracted €1.2bn of demand.
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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.
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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.
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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.
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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.
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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.
