Germany
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KfW took advantage of the stable market backdrop to issue a new €4bn seven year euro benchmark on Tuesday, but some bankers not on the mandate questioned the degree of interest in the trade. -
Syndicate bankers on Tuesday’s triple tranche deal from German machinery maker Siemens claimed to be the winners on a day of very competitive supply.
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Matteo Andreetto, the CEO of Deutsche Börse index subsidiary STOXX, will formally leave the company on September 30 to join an asset manager.
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German car leasing company Sixt has raised €200m in the Schuldschein market, part of which was sold through Helaba’s platform, VC Trade. As the market digitises, two platforms — one promoted by Helaba and one by LBBW — are pulling ahead of the pack.
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Finland and KfW received strong investor demand for the first sizeable deals in the euro public sector market following the summer.
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Commerzbank’s asset management company has raised long term multi-tranche debt to part-finance the acquisition of a 9.9 MW German wind park for one of its funds.
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Hyp Noe’s tightly priced €500m Aa1 rated seven year covered bond issued on Tuesday was thinly oversubscribed, in contrast to a similar sized triple-A rated six year from BayernLB which found greater demand despite being priced tighter and with a smaller concession.
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German exchange group Deutsche Börse has bought a minority stake in fintech company HQLAx and says that it is “likely to acquire further shareholdings” at the end of the year.
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FMS Wertmanagement will join the seven year sterling rush after mandating banks on Friday for a new benchmark trade.
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