Germany

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 1. The source for secondary trading levels is ICE Data Services.

KfW IPEX-Bank, a wholly-owned subsidiary of KfW, has promoted Christian Bevc to global head of syndications and treasury.

After launching its first euro covered benchmark earlier this year, Aareal Bank returned on Tuesday to mandate leads for a dollar Pfandbrief.

BayernLB is consolidating its loan, bond and Schuldschein syndicate desks into one debt finance syndicate. The bank's former head of leasing and securitization will head the new outfit.

CaixaBank found €3.7bn of demand for a green senior bond on Tuesday, as investors revealed their hunger for new paper. BayernLB could follow with a green deal of its own against the improving backdrop in euros.

Amendments to the German covered bond law, which are expected to be signed off within the next few months, contain key details on how soft bullet extensions will be triggered, the interest rate that is applied in such an event and the size of the liquidity buffer required.

German politicians are planting their flags, preparing for the leadership tussle that is set to follow chancellor Angela Merkel's departure from the post later this year. Low rates have increased debt's popularity as the means to fund economic stimulus but Germany’s frugality is legendary and now a fight is brewing over relaxing its famous debt brake, writes Lewis McLellan.

European and US direct lending’s insatiable rise to relevance has so far not brought with it a push towards sustainable finance. But this year may be different, as certain private debt funds are setting out ESG blueprints for others to follow.

Iceland was awash with demand in the euro market on Thursday, allowing it to comfortably sell its biggest bond in euros since 2014. But it was a far different outcome for the Joint Laender, which failed to achieve full subscription.

Anglo-German travel and tourism group TUI has completed its heavily discounted €544m rights issue, which is part of a bailout of the company.

Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, January 25. The source for secondary trading levels is ICE Data Services.

CureVac, the German biotechnology company, has launched a $523m share sale to fund late stage clinical trials for its Covid-19 vaccine, and an expansion of its manufacturing capacity.