Germany

The IPO of Suse, the German open-source software company, was covered quickly during its first day of bookbuilding in Frankfurt.

Globus, a German family-owned retailer, has launched a Schuldschein, joining a roster of other retailers stocking up on cash in the market.

A €1.15bn block trade in shares of Daimler, the German carmaker, was greeted warmly by investors on Tuesday night and has traded well in the aftermarket on Wednesday.

Deutsche Bank launched its first euro additional tier one (AT1) in about seven years this week, taking advantage of an impressive first quarter performance to raise €1.25bn of capital from €6bn of demand.

A consortium of shareholders in Delivery Hero, which had acquired a stake in the company following its acquisition of South Korean tech firm Woowa Brothers, sold a 9.8m share block in the German food delivery company on Tuesday night.

The Pfandbrief market is in the middle of a tumultuous year which includes not only the adoption of the EU's Covered Bond Directive but also digesting the bloc's Taxonomy for Sustainable Activities. Of course, this is all happening against the backdrop of the coronavirus pandemic and lockdowns, which have hit the commercial real estate market that underpins much of the product. Jens Tolckmitt, chief executive of the Association of German Pfandbriefbanks (vdp), spoke to GlobalCapital about how the market has coped.

Zuercher Kantonalbank is getting ready to become the first local Swiss bank to issue senior paper in euros, ahead of an important period in its funding schedule.

Deutsche Bank is planning to issue a new additional tier one (AT1) in euros, as it looks to offset the impact of “certain regulatory changes” and work towards meeting its leverage ratio target.

Erste Group Bank is lining up its first sustainability bond, as it looks to take advantage of a quiet period for new issuance and a recent back-up in rates.

Germany’s Finanzagentur is holding calls with investors this week to sound out interest for a planned syndication of a 30 year green bond, the sovereign’s third and longest deal in the format.

Muenchener Hypothekenbank (MuHyp) priced the tightest ultra-long dated Pfandbrief in 18 years this week, setting the record a day after Bayerische Landesbank (BayernLB) priced the tightest covered bond of the year and the tightest Pfandbrief since late 2018.

Deutsche Bank’s investment banking group was among the best performers in a strong all-round quarter for the German firm.