Germany
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In this round-up, China reports the first gain in foreign exchange reserves for March, a treasury official said preparations for the Shenzhen Connect have been completed, an RMB globalisation index dropped further in February, and Deutsche Bank assisted a corporate client set up a cross-border RMB liquidity solution. Plus, a recap of our top stories this week. -
Inter-American Development Bank (IADB) on Tuesday threw open the door for dollar issuance as the second quarter of the calendar year kicked off, with several other issuers eagerly following.
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The Schaeffler family’s €1.24bn clear-out block trade in Schaeffler non-voting shares failed to clear on Monday night, leaving the four lead banks long of the stock.
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Dutch dairy firm FrieslandCampina has completed the second ever green Schuldschein, increasing the deal by a third in syndication.
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Deutsche Bank made its second visit to the senior unsecured market within a month on Thursday, offering investors an eye catching price for a two year floating rate deal.
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The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.
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Two UK borrowers, Kier Group and Laird, are marketing their first ever Schuldscheine, as UK borrowers return to the market after a long break.
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The Inter-American Development Bank highlighted the depth of demand in a resurgent dollar market by printing the largest benchmark in the currency in over a month — with KfW next up to test the dollar’s depth.
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The European Investment Bank built a book of €8bn for a 10 year Earn on Tuesday as the 10 year Bund yield fell to a 12 month low, leading bankers on the deal to suggest tougher times may lie ahead for euro issuers.
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BNP Paribas targeted German institutions for a long six year senior unsecured trade on Tuesday, reviving the concept of a “regionally targeted" bond to attract smaller accounts.
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Schaeffler Holdings has launched tonight the sale of the family holding company’s last non-voting shares in Schaeffler, the German bearings maker which floated in October. It is likely to be the only block trade in the stock for the foreseeable future.
