Germany

Landesbank Hessen-Thüringen (Helaba) is expected to price the third dollar Pfandbrief of the year at the tight end of guidance and inside the level it could have achieved in euros.

German automotive supplier ZF Friedrichshafen has refinanced debt it took on for the acquisition of TRW with €3.5bn of loans. The company said credit rating upgrades earlier this year helped it to secure the improved deal.

German auto parts manufacturer Progress-Werk Oberkirch (PWO) has signed a €100m syndicated loan with four banks, including one institution lending to the firm for the first time.

In the 1983 blockbuster movie TV meteorologist Phil Connors gets caught in a time loop. With new issue premiums set to rise and spreads prone to soften, the covered bond market could also be set for a repeat of last year, say bank traders, and analysts at Crédit Agricole.

The State of Brandenburg drew a well oversubscribed book for a no-grow €300m August 2036 bond on Tuesday, adding to a spurt of 20 year euro deals over the past two weeks.

BayernLB successfully issued a $300m Pfandbrief at a tighter spread than it would have gotten in euros, with a highly oversubscribed book.

KfW was able to price through its curve as it reopened an Australian dollar bond on Wednesday evening Australian time.

Anyone who thinks that a merger between LSE and Deutsche Börse is odds-on now they have shareholder approval should hold that thought — there is still a very long way to go, with many twists and turns ahead.

The State of Brandenburg drew a well oversubscribed book for a no-grow €300m August 2036 bond on Tuesday, adding to a spurt of 20 year euro deals over the last two weeks.

BayernLB successfully issued a $300m Pfandbrief at a tighter spread than it could have achieved in euros. It follows a privately placed sterling Obbligazioni Bancarie Garantite (OBG) issued by Banca Popolare dell'Emilia Romagna (BPER).

The German State of Brandenburg is set to double the record for its longest ever syndication, after hiring banks on Monday for a no-grow €300m 20 year bond.

The London Stock Exchange and Deutsche Börse are gearing up for a protracted examination by European regulators and competition authorities after the German exchange this week narrowly achieved the required votes from its shareholders to approve the planned merger.