Germany
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Bank Nederlandse Gemeenten and KfW mandated banks on Tuesday for euro issues at opposite ends of the curve. -
Berlin Hyp’s (BHH) third green Pfandbrief attracted a solid oversubscription ratio on Friday, and though the deal offered a hefty concession to its own curve, the pricing was tight compared with other recent deals.
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Qingdao Haier has set final price guidance for its D-share IPO. The Chinese white goods maker is eyeing proceeds of up to €397.5m from a smaller than expected debut for the asset class.
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A global equity sell-off mid-week caused some jitters among bankers covering a live Kommunalbanken dollar deal on Wednesday, but the nervousness proved unfounded as the trade came through to acclaim. The deal was typical in a week where SSAs priced tight and with big books despite choppy wider markets.
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Despite huge demand for shares in the IPO of Knorr-Bremse, its sellers chose a conservative price of €80 a share.
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Luxembourg’s SAF-Holland has increased the size of its revolving credit facility, with the commercial vehicle supplier locking in cheaper funding.
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SSAs are enjoying strong conditions in dollars, with KfW and the Province of Ontario finding plentiful demand on Wednesday despite bringing deals that on-looking bankers said were “pretty much” in line with secondaries. Kommunalbanken will price a dollar benchmark on Thursday that leads said was following a similar pattern.
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KfW and the Province of Ontario will hit separate parts of the dollar curve on Wednesday, with the former circulating what one on-looking banker described as “punchy” price thoughts. The deals followed a well-received floating rate note from a German Land that doubled in size.
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Newlon Housing Trust, a north and east London housing association rated A3 by Moody's, has returned to the US private placement market, raising £135m.
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Despite huge demand for shares in the IPO of Knorr-Bremse, its sellers have chosen to be conservative in setting the revised range in the listing, in the hopes of bolstering a positive first day of trading in uncertain markets.
