Germany
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Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve. -
HeidelbergCement hit the Eurobond market on Monday with a benchmark four year transaction, winning large demand and a negative concession as it tapped investors’ sweet spot on tenor.
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German Landesbank NordLB issued a €500m 10 year Pfandbrief backed by public sector loans on Monday. The deal had a narrowly oversubscribed order book despite offering a fair new issue concession. Meanwhile, Austria's Erste Bank has mandated leads for a Pfandbrief backed by mortgages.
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Eurex will introduce CFTC-certified options on its VStoxx futures contract as it aims to increase US participation in the product.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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Covered bond issuers from Europe’s core accessed the market across a range of intermediate tenors this week with LBBW, Compagnie de Financement Foncier (CFF) and Helaba issuing some of their largest deals in years.
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Royal Bank of Canada, Canadian Imperial Bank of Commerce, Commonwealth Bank of Australia and Deutsche Pfandbriefbank tapped the sterling covered bond market this week at cheaper levels than they could have achieved in euros and dollars.
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Searing conditions in the sterling market could lead to a record opening week of SSA issuance in the currency as a pair of issuers lined up deals for Friday — despite this only being a four day week.
