Germany

A trio of SSA issuers made moves to mop up short end dollar demand on Tuesday. NRW Bank printed a $1bn bond and two others mandated for deals.

NRW.Bank has gone further out along the curve with a syndicated bond than it has for several years — and managed to find some new investors with its third green bond.

Following its recent roadshow, Deutsche Apotheker- und Ärztebank eG has mandated leads for a €500m no grow Pfandbrief.

Deutsche Bahn priced a Sfr175m 10 year bond on Monday, its first issue in Swiss francs for over a year.

Steilmann, the German clothing retailer, has managed to sell all the shares in its Frankfurt IPO, but only after substantially shrinking the offering.

Two SSA issuers kept it short and sweet in dollars during a fairly quiet market on Monday. One has opted for a long three year floater and the other a fixed rate 2017.

A German agency could help push green bond issuance for the final three months of 2015 towards a record quarterly level, after mandating on Monday for a deal.

A poor third quarter for Commerzbank’s investment banking division and the announced retirement of its chief executive has done little to spoil the bank’s overall sense of momentum, as it posted better profits than had been widely expected and revealed it would pay its first dividend in eight years.

A steady start to the week in the European corporate bond primary market had clicked into gear by Thursday, as corporate issuers emerged at pace from earnings blackouts.

In this round-up, Macau’s RMB deposits, SDR review decision drawing close, BRICS NDB and AIIB ready operations, BoC reports on RMB business in first three quarters, and CFETS plans a joint venture with Deutsche Boerse.

China’s newly launched Cross-border Interbank Payment System (CIPS) is fundamental to the internationalisation of the renminbi as it centralises liquidity and will save costs, says Marcus Sehr, global head of institutional cash, global transaction banking at Deutsche Bank.

The flying cars and self-drying suits that Marty McFly discovered on October 21, 2015 in Back to the Future may not exist, but self-recovering auto credit spreads have been in evidence over the past week – taking Europe’s big carmakers back to the levels they enjoyed in September before the Volkswagen emissions scandal.