Germany

Demand was so strong for an agency bond tap on Thursday that the leads had to ask the issuer to increase the deal, as SSA investors scrambled to get their hands on one of the last large issues of the year.

Aldi, the German discount supermarket chain, has signed a private club loan for around €600m with six banks. The deal is the company's first syndicated loan, according to bankers.

Public sector borrowers are putting the final touches to their funding programmes for the year amid stable market conditions, but there are few signs that any will pre-fund for 2016 in large size.

Financial institutions have begun a final push for funding as year-end approaches, with investors still looking to boost returns with higher beta purchases.

Fresenius SE, the German medical services company, received its second investment grade rating this week with a Moody's one notch upgrade on Monday. But there was little movement in the company's bond prices as market participants said the change had long been priced in.

Rentenbank equalled its second largest euro benchmark size ever while still managing to tighten pricing with a November 2022 on Tuesday.

Car and truck manufacturer Daimler is expected to complete a Schuldschein deal in the coming weeks, with the market showing no sign of slowing.

German technology company Körber is expected to close its debut Schuldschein issuance before the month is up, according to a company spokesperson.

DZ Bank has placed a five part inaugural additional tier one (AT1) transaction within its co-operative bank network, which it said opens the door to a mid-size investor base for the product in Germany.

An agency is set to round off its funding for the year with a euro benchmark amid solid but quiet market conditions.

Continental Rubber of America, a wholly owned subsidiary of Germany’s Continental, issued a €500m no-grow bond on Thursday, returning to the bond market after a two year gap.

The green bond market was home to a pair of firsts this week, as one seasoned issuer sold its first ever bond in any format at a tighter spread to US Treasuries than mid-swaps, and another made its debut in the SRI format.