Germany
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Synlab, the German laboratory diagnostic services company, has set the terms for its €1bn plus IPO on the Frankfurt Stock Exchange. -
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The relentless flow of special purpose acquisition companies coming to the market is causing unease among investors about market saturation, with $140bn raised so far this year. Only the highest quality sponsors are likely to succeed in bringing new Spacs to IPO from now on, writes Aidan Gregory.
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Italian asset manager Anima Holding sold €300m of senior debt against a quiet backdrop this week, having decided to target the popular seven year tenor.
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The State of North Rhine-Westphalia and the International Finance Facility for Immunisation attracted impressive demand in the dollar market on Wednesday, allowing them to print big deals in the currency.
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German venture capital company 468 Capital has launched an IPO of a new special purpose acquisition company on the Frankfurt Stock Exchange.
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Berlin Hyp has this week become the first financial institution to issue a sustainability-linked bond. Market participants were divided over whether the structure helped the issuer to achieve better deal terms, but the innovative trade will give other banks an important example to follow.
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DZ Hyp raised €1bn of eight year covered bond funding flat to its curve on Tuesday in what bankers called a ‘textbook execution’.
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Santander has lost a covered bond trader to Barclays, which itself is in the market for a covered bond analyst after losing two recently.
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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.
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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.
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Deutsche Telekom dialled in to the Aussie dollar market after an almost two year absence this week, extending its curve to 2041.
