Germany

Santander has lost a covered bond trader to Barclays, which itself is in the market for a covered bond analyst after losing two recently.

Lufthansa has issued a quirky Schuldschein this week, according to market sources, in that it was bought by the eight banks that arranged it, rather than being sold to investors.

DekaBank’s sub-benchmark Pfandbrief issued on Monday was more than three times subscribed and was priced through fair value, boding well for a follow-on Pfandbrief from DZ Hyp for launch on Tuesday.

Deutsche Telekom dialled in to the Aussie dollar market after an almost two year absence this week, extending its curve to 2041.

Berlin Hyp will become the first bank to issue a sustainability-linked bond (SLB), after it announced plans on Friday for a deal with a coupon that will step up if the issuer fails reduce the carbon intensity of its loan book by 40% over the next 10 years.

The SSA dollar bond market sprang into life this week with a slew of impressive deals. With swap spreads yawning wider at the short end and a fairly flat curve to five years, borrowers could soon be issuing sub-Libor deals in the belly of the curve.

Guarantor: Federal Republic of Germany

KfW and CPPIB Capital achieved super tight pricings in the short end of the US dollar market on Thursday, with the former bringing the first deal with a negative spread to mid-swaps in the currency by a public sector borrower this year.

KfW hit the market with an impressive green bond this week, raising a record €4bn of eight year paper and paying only 1bp of new issue concession to do so.

Citi has filled the covered bond and SSA research analyst spot that was vacated by Michael Spies when he moved to DCM. Meanwhile, Commerzbank has lost a research analyst.

Synlab, the German laboratory diagnostic services company, has announced its intention to float on the Frankfurt Stock Exchange.

Italy and Portugal are the first two eurozone sovereigns out of the blocks for syndications following the Easter break, with the former looking to extend its curve by a further five years.