Germany
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NRW.Bank nipped in ahead of this week’s Federal Open Market Committee meeting to tap keen investor interest in dollars on Wednesday, pricing a deal that on-looking bankers said was flat to its curve. -
Revised price ranges have been set on the flotations of Funding Circle and SIG Combibloc as investors continue to support the crop of new European listings coming to market.
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ADO Properties is seeking to raise Schuldschein debt, a month after shelving a eight year public bond after a high profile bribery case in Israel implicated its chairman.
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NRW.Bank hit screens on Tuesday for its first dollar benchmark of the year, ahead of what will be a closely watched Federal Open Market Committee meeting on Wednesday.
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The European Central Bank has reduced the maximum size of its orders in the primary covered bond market from 30% to 10%, based on the evidence of a €500m 10 year social Pfandbrief issued on Tuesday by Deutsche Kreditbank (DKB).
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German publishing company Bertelsmann returned to the euro corporate bond market on Tuesday to remarket a deal it had pulled in May after setting the spread. This time the issuer priced the transaction, but it had to pay a much larger new issue premium than others have done on recent deals.
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RAG-Stiftung, the German foundation created in 2007 to support the discontinuation of the country’s coal mines, opted to a block trade alongside an exchangeable bond to sell a 7% stake in Evonik Industries, the German speciality chemicals company, for €1bn.
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Koos Timmermans, the outgoing chief financial officer of Dutch bank ING, will be stepping down from his role as the chairman of the working group on euro risk-free rates, according to a European Central Bank (ECB) spokesperson.
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IDB Invest hit screens for a three year dollar bond on Monday, as the pipeline for the currency grew for the final quarter.
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Exyte, the German company that designs and builds high tech facilities such as laboratories and factories, has unveiled its plans to go public on the Frankfurt Stock Exchange in October, having filed an intention to float document on Monday.
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Two €500m deals issued by Commerzbank and ASB Finance went well enough. The New Zealand deal attracted new investors and hit the issuer’s funding target. However, Commerzbank was unable to tighten pricing by much, underscoring the impression that market sentiment had deteriorated slightly.
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