Germany
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WL Bank and Berlin Hyp this week followed last week's lead by Helaba, taking advantage of a quiet market and historically tight covered bond spreads to launch two tightly priced €250m Pfandbrief taps at the long end of the curve this week. -
Aroundtown, the German commercial property company, raised €450m of growth capital on Thursday night in a share sale led by Goldman Sachs, Berenberg and Deutsche Bank.
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A pair of public sector borrowers launched trades in the socially responsible investment (SRI) market this week, taking advantage of the dearth of green supply to land prices well inside their conventional curves.
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KfW tapped its July 2020 Australian dollar green bond for A$200m ($156.9m) on Wednesday, pricing well inside its existing Kangaroo curve — an illustration of the developing maturity of green markets down under.
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The Federal State of North Rhine-Westphalia came to market for its longest ever bond on Thursday, raising €1bn with a 40 year transaction in a market that “just can’t get any hotter”, according to a banker at one of the leads.
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Shares in Varta, the German maker of micro-batteries for hearing aids and wireless headphones, closed 15% higher on Thursday after the company priced its €203m Frankfurt IPO at the top of the range.
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The non-US women's health unit of Israel’s Teva Pharmaceutical Industries is mulling the option of issuing its first term loans in euros to fund its buyout by private equity firm CVC.
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Deutsche Bahn returned to the market after a two year absence with the longest dated Swiss franc bond from a German corporate. Swap costs have made it tricky for Deutsche Bahn to borrow in the Swiss currency. But the lead managers found a window at 13 years for the issuer to exploit.
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The Joint Laender printed €1bn of 10 year paper on Tuesday, filling the book unusually quickly for a Laender deal. The deal was joined in the market by a European Union (EU) tap of an April 2031 line.
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The European Union (EU) is set to tap an April 2031 line on Wednesday, coming on the heels of KfW five year benchmark on Tuesday, that raised €3bn.
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Hapag-Lloyd, the German container shipping company, has raised €352m to reduce its debt after its one-for-14 rights issue won a high take-up from its shareholders.
