Germany
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Eurogrid, the German electricity grid operator, swept through the primary bond market at pace on Tuesday with an €880m dual tranche issue that showed there was life in the long dated market.
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Public sector borrowers have jumped on demand for Brazilian real notes with a flurry of medium term notes — and there is more in the pipeline, said niche currency and MTN bankers. -
L-Bank jumped on strong momentum in euros this week to print its first benchmark of the year in the currency. The five year note found no shortage of demand and drew the biggest order book the issuer has had since 2006.
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Next month sees the launch of the China Europe International Exchange (CEINEX), a joint venture between China and Germany. The exchange will develop and distribute offshore RMB including five new ETFS that are expected go live at the same time as CEINEX.
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Hapag-Lloyd, the German container shipping firm, is still hoping to complete its $410m IPO, but has extended the bookbuild by a week in the hope of gathering enough demand. The deal was shrunk before the start of the bookbuild.
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Eurogrid, the German electricity grid operator, swept through the primary bond market at pace on Tuesday with an €880m issue that showed there was life in the long dated market.
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German airline Lufthansa is considering issuing its first Schuldschein for three years because the German private placement market could offer it better pricing than the conventional bond market.
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Tele Columbus, the German cable company that floated in January for €510m, has begun a four-for-five rights issue to raise €382.7m to finance two acquisitions.
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The internationalisation of the Schuldschein market, Germany's answer to private placements, has been widely hailed, with foreign issuers and investors increasingly prominent. But even the banks that arrange the deals now include some surprising non-German names, writes Elly Whittaker.
