Germany
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The German defence company's valuation has almost doubled since the start of the war in Ukraine -
German development bank looks to fund €90bn-€95bn, the higher end of what was expected
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The German state is eyeing two fixed rate benchmarks in the first half of next year
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The deal offered exceptional value and was increased then tapped
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Issuance will depend on the success of its wind-down operations
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The regional development lender finished north of €10bn this year
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More benchmarks of €1bn are planned for the year ahead
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◆ German court ruling may hit Bund issuance in 2024 ◆ KfW and Länder funding may also be affected ◆ Banks and borrowers shrink loan syndicates
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Germany faces funding shortfall for 2024 but problem extends beyond Bunds to agencies and Länder
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The sovereign also expects to add a new point to its green bond curve
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More time needed, but Pfandbriefe cover pools should be safe
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Frankfurt has been one of the few exchanges in Europe this year to host several large IPOs amid a dramatic downturn
