Germany

Friedrich Vorwerk, the German energy infrastructure construction company owned by MBB, has announced its intention to float on the Frankfurt Stock Exchange.

FIG issuers are taking care to announce deals before opening order books this week, as they try and book their places in the market ahead of a tricky meeting for the European Central Bank on Thursday.

Guarantor: Federal Republic of Germany

Oldenburgische Landesbank (OLB) is set to issue its first Pfandbrief sometime next week, after mandating leads for a roadshow.

Monika Rast, UniCredit's head of multinational corporates, is taking on the additional title of deputy head of the corporate and investment bank for Germany.

Global Fashion Group, the Frankfurt-listed online fashion retailer focused on emerging markets, has successfully issued its debut convertible bond, despite volatility caused by a selloff of technology stocks in the United States.

Italy took orders of over €80bn for its first green BTP on Wednesday to become the latest sovereign to enter the green bond market. Germany was also in market, raising €3bn with its first 15 year deal via auction.

German commercial real estate company DIC Asset has launched its second Schuldschein, for an initial target of €100m, according to a term sheet distributed to investors. The debt’s margins will be tied to the proportion of green assets the borrower has on its balance sheet. Most notably, there is a ‘fast track’ settlement date for banks needing to secure assets before an ECB funding deadline that falls at the end of this month.

Market participants will be reassessing the role of deposit guarantee schemes in European Union bank bailouts after this week’s ruling by the European Court of Justice that the 2014 rescue of Banca Tercas should have been upheld as lawful.

Austrian paper and packaging company Mayr-Melnhof Karton has sold €1bn of long-dated Schuldscheine, in the first transaction of that size this year. The deal, which will fund acquisitions in Finland and Poland, showcases the high amounts and attractive structures companies can achieve due to a supply and demand imbalance in the German private placement market.

KfW rebooted the short end of the euro public sector bond market on Tuesday with a well subscribed trade which offered a modest new issue premium. The deal shared the euro SSA market with the State of Baden-Württemberg’s debut green bond.

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, March 1. The source for secondary trading levels is ICE Data Services.