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Volkswagen’s main borrowing entities have not issued unsecured bonds since the company became embroiled in its diesel emissions test cheating scandal in September 2015. Last week, however, the company took a first step back, with a €900m Schuldschein issue for its financial services arm. -
Novomatic, the Austria-headquartered gambling company, has syndicated a €1bn five year revolving credit facility as it looks to combine its credit facilities into a single line.
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After weeks wracked by political turbulence, the euro market has finally been able to enjoy a clean run with supportive conditions.
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As the first non-German bank in the eurozone to price a €1bn covered bond in over a month, OP Mortgage Bank was perhaps overly careful with its initial approach to pricing. But the plan paid off.
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The European Investment Bank launched a €5bn seven year benchmark on Wednesday, pulling in what two SSA syndicate bankers said is one of the largest books ever for an Earn transaction.
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Kion Group, the German forklift manufacturer, has finished a Schuldschein deal that raised almost €1bn, in one of eight Schuldschein trades that were launched or priced this week from a wide range of sectors and regions.
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Landesbank Baden-Württemberg and WL Bank successively priced the tightest covered bonds of the year this week and both were able to tighten pricing to a greater extent than any previous German issuer.
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Senior and covered bond spreads have plunged to new lows in the FIG primary market this week, with a host of banks looking to lock in unprecedented funding levels.
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Kion Group, the German forklift manufacturer, has finished a Schuldschein deal raising almost €1bn in the process. There was particular focus on Asian investors, despite Kion not offering a dollar tranche.
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Landesbank Baden-Württemberg has priced the tightest covered bond of the year and was able to tighten pricing to a greater extent than any other German issuer this year.
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