Germany
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A hotly contested battle for the French presidency has quieted much of the public sector market this week, but KfW has picked banks for a five year euro benchmark. -
The European Banking Authority (EBA) has approved a partial waiver to the Capital Requirements Regulation (CRR) that allows German covered bond issuers to take exposures to a wider range of counterparties but with a lower minimum rating.
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The European Energy Exchange (EEX) is to launch financially settled power futures for Germany ahead of any possible split of the present German-Austrian power price zone.
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Eurozone quantitative easing increases bond prices in the inter-dealer market and is also “likely” to hit liquidity, according to research from the Bank for International Settlements (BIS). The findings also suggest that timing QE asset purchases depending on market conditions could benefit the policy as a whole.
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Deutsche Bank has successfully completed its fourth capital raising since the financial crisis, as investors backed CEO John Cryan's turnround plan with a 98.9% take-up rate.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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Deutsche Bank shares closed on Thursday April 6 at €15.68, well above the €11.65 subscription price in its €8bn rights issue, for which subscription closed that day.
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Yorkshire Building Society defied concerns around the UK’s decision to leave the European Union this week, issuing a well oversubscribed covered bond that was very broadly distributed and that priced almost flat to its curve.
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FMS Wertmanagement took advantage of the dearth of supply in short dated euro paper to score an extremely tight price for its €1.5bn November 2020 benchmark on Thursday.
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L-Bank shattered its sterling size record on Wednesday, exceeding the expectations of even its leads with a £500m five year deal.
