Germany
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The first missed additional tier one (AT1) coupon payment may not be the harbinger of impending doom some think, but the implications for banks’ capital costs would be severe.
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Biotechnology Research And Information Network priced and allocated its €32.5m initial public offering on Wednesday. The German biotech business is due to start trading in Frankfurt on February 9. -
The rare sight of a pulled German bond issue rocked the SSA market Wednesday afternoon. The issuer blamed market conditions but there were rumblings that this was a failure of process, not context.
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The first missed additional tier one (AT1) coupon payment may not be the harbinger of impending doom some think, but the implications for banks’ capital costs would be severe.
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Some of Deutsche Bank’s additional tier one (AT1) bonds plumbed new depths in the secondary market on Monday as more investors began to worry about the lender’s ability to pay coupons on the notes.
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AIB Mortgage Bank attracted robust demand for its €1bn seven year covered bond issued on Thursday, and WL Bank also did well despite the difficult 10 year tenor and measly spread.
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Deutsche Pfandbriefbank took a plunge into the euro senior market on Thursday, overcoming an uncertain backdrop to print a deal that leads claimed could transform its future investor base.
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KfW and the European Investment Bank nipped in with one-day executions on Thursday, raising €1bn apiece in what has been a turbulent week.
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Deutsche Bank will focus on 2016 as a "peak restructuring year" and its executive board will forgo bonuses as the bank attempts to regroup after a full year loss of €6.8bn in 2015.
