Germany

Austrian machinery maker Andritz has launched a €300m four tranche Schuldschein, with the intention to see if lenders could be lured out along the maturity curve with its five, seven, 7.75 and 10 year tranches.

Goldman nabs senior BAML bankers — Credit Suisse fined $77m — StanChart names Singapore CEO — Ceinex makes progress with D-shares — Ambit hires ECM head

German property company Aroundtown raised funding in a fifth different currency of 2018 on Wednesday, when it saw an opportunity to issue corporate bonds more cheaply in sterling than in euros.

Investors are upbeat about the prospects for Italian government bonds, believing that “market forces” will act as buffers to the effects of exuberant populist government policy. The sovereign should be supported at the long end during an auction this week, said some But in the core of the eurozone core, some investors are looking to keep things short.

Bayerische Landesbank (BayernLB) attracted more demand for its €500m nine year than Hypo Vorarlberg Bank (Vorhyp) did for its €500m eight year this week, even though the Austrian deal benefits from greater scarcity value.

Unrated German mail order retailer Otto Group found plenty of demand for its debut hybrid bond on Tuesday. Order books were more than twice oversubscribed following a week-long roadshow.

KfW on Monday priced a tap of its recent 15 year euro bond in line with guidance, doubling the overall deal size to €2bn.

The corporate bond market started the week slowly with a pair of well rated German corporates selling two year floating rate notes on Monday. Both had just a sole lead manager.

Hypo Vorarlberg (Vorhyp) and Bayerische Landesbank (BayernLB) have mandated leads respectively for eight and nine year €500m no-grow covered bonds.

The China Europe International Exchange (Ceinex) has released detailed guidelines for Chinese blue-chip issuers hoping to list in Frankfurt through D-shares.

A German sub-sovereign astonished the SSA market this week, selling a 50 year benchmark to show that, despite the expectations of rising rates in euros, some investors at least are still happy to put money into assets at the ultra-long end. Lewis McLellan reports.

A pair of European agencies have increased their funding target ranges for 2018 as they prepare for the second half of the year.