KfW
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of busiess on Monday, July 12. The source for secondary trading levels is ICE Data Services -
KfW has had a strong start to 2021, raising over €50bn in the first six months of the year — around two thirds of its target. The agency will face new challenges in the latter half of the year, particularly in the form of the European Union’s colossal Next Generation funding programme. But treasurer Tim Armbruster, and head of capital markets Petra Wehlert are confident they can navigate the new landscape.
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KfW braved a volatile rates backdrop to reopen the primary dollar public sector bond market on Wednesday. Dexia Credit Local is looking to follow with a deal in the same currency and tenor on Thursday.
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See the progress Europe's supranationals and agencies have made in their funding programmes as we start the third quarter.
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KfW sold its first Sonia floating rate note on Wednesday, with the deal pricing at the tightest ever spread for the product in syndicated format.
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Sponsored KfWKfW has one of the largest and most successful green bond issuance programmes in the market and now, with a new mandate from the Federal Government to help deliver ambitious climate goals, it is pushing ahead with a strategy that enshrines sustainable transformation as the Group’s primary strategic goal.
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Dutch agencies were active in core currency MTN markets earlier this week, including FMO, which sold its first currency-linked bond for almost a year.
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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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German cruise liner Tui Cruises is marketing its first high yield bond, as it emerges from a devastating year for the company and the broader travel sector.
