Germany
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Germany’s Kion Group, the largest European forklift truck manufacturer, is redeeming its €450m of secured notes at their first call date next week with proceeds from a new, cheaper loan facility. -
The widening spreads between core and periphery eurozone government bonds may lead some issuers to hold back from bringing deals, say bankers.
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The extraordinary sight of a German public sector borrower pulling a syndication mid-week led not only led to criticism of the deal’s execution but also reawakened fears over banks' diminishing ability to take down and warehouse sovereign and sub-sovereign bonds. Craig McGlashan reports.
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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.
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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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