Germany

Deutsche Bank made an encouraging return to the euro tier two market on Thursday, but the hefty spread on offer suggested investors were still a little wary about the credit.

L-Bank printed a five year deal on Monday as the sterling market kept up solid momentum from last week.

KfW built a more than 2.5 times subscribed book on Thursday for its longest dated green bond ever, drawing praise despite tightening pricing by more basis points than is typical for the issuer.

The European Bank for Reconstruction and Development printed a $500m floating rate note on Thursday in the week’s third deal in the format.

Deutsche Bank made an encouraging return to the euro tier two market on Thursday, but the hefty spread on offer suggests investors are still wary about the credit.

German aircraft engine manufacturer MTU Aero Engines issued a €500m seven year convertible bond on Wednesday to refinance a previous vanilla bond more cheaply.

KfW is back in the green bond game, after mandating banks for what Dealogic data shows will be its longest dated deal in the format yet.

German specialty chemicals company Evonik Industries launched €1.9bn of loans into syndication on Wednesday.

DG Hyp priced the tightest and most oversubscribed German 10 year covered bond of the year on Wednesday. The strong result pays testimony to constructive covered bond sentiment which is being driven by prospective supply scarcity and relative value to government bonds.

One of Germany’s largest renewable energy project lenders has mandated banks for a debut green senior unsecured bond, which a banker involved in the trade labelled “greener than green”.

L-Bank printed a five year deal on Monday as the sterling market kept up solid momentum from last week.

The €640m loan for German hardware manufacturer Stabilus will include a €115m bridge to equity facility.