Germany
-
Agencies from the Netherlands, France and Germany are set to come to market on Tuesday for short dated dollar deals. -
KfW hit screens on Monday, mandating three banks for a five year euro transaction.
-
Muenchener Hypothekenbank (MuHyp) doubled the size of its 10 year Pfandbrief tap despite pricing it at extremely tight levels, as SP Mortgage Bank announced plans to proceed with its second ever benchmark. Unlike SP's debut last year, the new deal will probably be priced through mid-swaps.
-
BASF is set for a busy year in the bond market in 2018, after announcing on Friday that it had agreed to buy parts of Bayer’s seed and non-selective herbicide businesses for €5.9bn, all in cash.
-
While the dollar market produced one of its strongest deals of the year on Wednesday, another deal enjoyed markedly less success on the day, indicating that investors’ tolerance for tight levels may be becoming stretched.
-
-
The sterling bond market is enjoying a golden age. That was in clear evidence this week when a German-focused property company with very few sterling assets to fund chose to sell its debut deal in the currency. Nigel Owen reports.
-
In a busy week for utility company bonds Iren, the Italian electricity and gas distributor, on Tuesday announced a new benchmark green bond alongside a tender offer for some of its outstanding bonds.
-
Innogy, the German utility split off from RWE in April 2016, on Wednesday announced it would be holding investor calls about a new benchmark 10 year debut green bond issue. Later in the day, Standard & Poor’s upgraded the issuer to BBB.
-
Germany’s general election has put the Green party in a strong position to push for bolder policies on sustainability, and possibly to gain control of the energy ministry.
-
The European Investment Bank shrugged off any concerns over the divisions between the governments of Spain and Catalonia and the skinny spreads on offer, printing $3bn at one of the tightest spreads of the year.
-
On Wednesday, Aroundtown took advantage of the current very favourable conditions in the sterling market. The Germany-focused property company’s debut issue in the currency took to four the number of different currencies the issuer has sold bonds in during 2017.
