Germany

Rentenbank sold a public trade in dollars on Thursday, the first such deal since the UK voted on June 23 to leave the European Union.

The UK may have voted to leave the European Union but German’s biggest agency showed it still plans to visit the UK’s currency, as it sold the first sterling deal from an SSA since the UK’s referendum late last week.

The outcome of the Brexit referendum has cast a shadow over London’s ability to maintain its status as Europe’s foremost RMB business hub. In this lowdown, GlobalRMB pits three other European capitals – Frankfurt, Luxembourg, and Paris – against the City as the most likely contenders for Europe’s RMB crown.

Germany’s financial regulator this week cast further doubt on the planned merger between Deutsche Börse and the London Stock Exchange by objecting to a London headquarters for the group in the wake of the United Kingdom’s vote to leave the European Union.

Swedish sponsor EQT is set to syndicate €1.25bn of loans in July to fund its acquisition of German Bilfinger’s real estate business, in a market that has been led by German and French deals since the Brexit referendum.

German carmaker Daimler returned to the Panda bond market following a more than two-year hiatus, raising Rmb4bn ($604m) from a private placement.

The European Central Bank could soon rule German senior debt ineligible for repo transactions, dealing a blow to the country’s plans to subordinate the asset class.

Leveraged loan investors this week showed healthy appetite for core European deals as French data processor Tessi and German jewellery maker Amor began marketing their acquisition loans.

The European Central Bank could soon rule German senior debt ineligible for repo transactions, dealing a blow to the country’s plans to subordinate the asset class.

The first of three political risks to the stability of the capital markets faced passed without causing disruption this week, as a mechanism attributed with calming fears amid the eurozone sovereign debt crisis was declared legal.

The €145m of loan facilities to support the purchase of German jewellery maker Amor from 3i by Gilde Buy Out Partners enjoyed a good reception, in line with latest deals in the market.

A vote for the UK to exit the European Union next week is likely to intensely magnify a strong rush into safe haven assets, but some bankers are still confident that after the initial furore of a ‘Brexit’ there could be room for issuers eyeing euro deals in July to go ahead. And, if the UK opts to stay in the EU, issuers are likely to be lining up to print in July.