Germany
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CDP Financial, one of Canada's largest public pension asset managers, joined three other public sector borrowers in the dollar market on Tuesday to sell its debut green bond. -
Moody’s has placed Deutsche Bank on review for a ratings upgrade, praising the firm for making "swift and pronounced progress" towards its restructuring goals. The rating agency wants to determine whether the German bank can sustain a recent improvement in its earnings, which has largely been fuelled by an outperformance in its capital markets business.
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A block trade in Befesa, the German metal recycling firm, proved that overnight deals can be done in the EMEA blocks market, despite heightened volatility.
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The €173m IPO of hGears, the German maker of high-precision gears for e-mobility, is more than three times covered, ahead of final pricing later today.
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The IPO of Suse, the German open source software company, was in high demand as it closed the order books on its Frankfurt listing.
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Suse, the German open-source software company, has narrowed the price range for its €1bn IPO on the Frankfurt Stock Exchange.
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Berlin Hyp and HVB took advantage of strong market conditions this week to issue to highly successful Pfandbriefe.
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Commerzbank has outperformed expectations by reporting a net profit in the first quarter of the year — even accounting for a large restructuring charge — as the German lender trims its workforce and sharpens its focus on the domestic market and German clients.
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UniCredit’s German subsidiary, HVB, enjoyed a stunning investor reception for its negative yielding eight year Pfandbrief that was issued on Wednesday, thanks to the lack of supply this year, the small but rare premium on offer and the superb market conditions.
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The European Investment Bank failed to impress market participants on Tuesday with an order book far smaller in size than usual for an Earn benchmark and no move in the spread after guidance.
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Germany sold a 30 year green bond via syndication on Tuesday, pricing the trade 2bp through its conventional twin bond of the same maturity and coupon.
