Germany
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Sparkasse Hamburg extended its curve and priced a Pfandbrief inside fair value with good demand this week. At the same time Hypo Tirol paid a relatively small concession for its sub-benchmark Pfandbrief, suggesting any lingering concern over Austrian covered bonds following the Heta saga has been put to rest. -
Carl Hagerman is due to leave his role as bond syndicate manager at SEB’s Stockholm office and take up the position of senior originator and team leader on its corporate debt capital markets desk in Germany.
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Corporate bond issuers in Europe made a busy start with multi-tranche deals from energy company E.On and brewer AB InBev, as primary markets shrugged off the biggest ever cyber-attack on businesses around the world at the weekend.
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KfW has raised the threshold of sustainability it requires as an investor, the latest in a growing trend for bond buyers to focus on the impact of their investments.
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Hamburger Sparkasse has mandated joint leads for its second publicly syndicated Pfandbrief which is expected to be launched on Tuesday.
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Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.
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The SRI bond pipeline for public sector borrowers looks fit to burst, with a string of issuers planning deals and KfW setting a marker with a thumping trade this week.
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Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.
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The European Union has issued its first ever Schuldschein, and may issue further such deals.
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A recent improvement in the prices that shipping companies command may have come too late for bondholders of Rickmers, the 183 year-old Hamburg shipping company. They are set to endure losses as the borrower attempts to make it to 184.
