Germany

German real estate firm VIB Vermoegen is in the market for a €60m Schuldschein. Not only is a property borrower a rare sight in the market but the deal also raises questions about the subordination of Schuldschein debt.

German automotive parts manufacturer Ifa Rotorion grew its Schuldschein from €100m to €140m in syndication, reaching the maximum amount the borrower was willing to take, according to one banker.

Stoxx has licensed its newly created iStoxx FactSet Thematic Indices to BlackRock’s iShares to provide the underlying for four exchange traded funds.

RWE, the German utilities group, will float its renewables and power distribution business Innogy on the Frankfurt Stock Exchange in the fourth quarter, the company said in an intention to float document on Monday morning.

The head of funding and debt investor relations at Deutsche Pfandbriefbank (PBB), Götz Michl, talks to The Cover about why his bank has joined the European Covered Bond Council’s Label Foundation.

The sterling market for public sector borrowers woke from its summer slumber with a bang this week, as a series of issuers approached the currency in a variety of ways and for different reasons.

KfW this week added its name to a run of offshore renminbi issuers over the last few weeks, with investors appearing to be keen for paper that can offer a yield of over 3%.

KfW has printed a large MTN in Norwegian kroner, as bankers reported an uptick in international investors betting on a rise in the currency.

Natixis Pfandbriefbank priced its debut publicly syndicated transaction on Wednesday after previously only issuing private placements.

Schaeffler Verwaltung Zwei, a holding company which owns 75% of bearings manufacturer Schaeffler, has signed a €800m credit agreement with four banks as part of a €3.3bn refinancing package.

German consumer goods group Henkel touched negative yields as it tapped three currencies for a €2.2bn equivalent four tranche bond deal on Tuesday, pulling in a monster order book.

The German subsidiary of Natixis issued its first publicly syndicated covered bond on Wednesday, selling the 10 year issue mainly to German based investors.