Germany

Vseobecna uverova banka and Stadtsparkasse München have both been keeping the sub-benchmark covered bond market busy with deals this week.

German Asklepios Kliniken launched a €300m triple tranche Schuldschein on Wednesday, with pricing that could tempt a wide variety of lenders.

L-Bank has snuck in at the last possible moment before the end of a crucial US Federal Reserve meeting to raise $500m with a comfortably oversubscribed floater.

The German pharmaceutical company, Stada, and the UK housebuilder, Miller Homes, both complete their high yield bond roadshows on Wednesday with the deals expected to follow before the end of the week.

In September, a number of issuers have returned to the European corporate bond markets after a number of years without issuing. On Wednesday, German chemicals distributor, Brenntag, Australian property company Goodman, and Austrian steel company, Voestalpine, were the latest to join that list.

Deutsche Bahn is soft-sounding investors about a lengthy Kangaroo bond, with an eye on Australian and Asian buyers.

UniCredit has made three new appointments within its financial institutions group for Germany and Northern Europe.

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Two high quality euro borrowers printed what may be among their last benchmarks of the year this week, squeezing new issue premiums flat to the curve as investors filled their boots.

The equity blocks market extended a busy run this week, with a Bayer trade in Covestro on Tuesday night, and the second sell-down of shares in Ahlsell by CVC since its IPO in October last year.

Bayer, the German life sciences company, took one more step towards full separation from Covestro, the plastics company it span off in 2015, when it launched another block trade on Tuesday night for around €1.2bn of the company.

Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.