LBBW
-
After weeks wracked by political turbulence, the euro market has finally been able to enjoy a clean run with supportive conditions. -
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
-
The Dutch covered bond issuer, Van Lanschot Bankiers has mandated leads for the first 10 year covered bond in nearly a month and the first Dutch conditional pass through (CPT) since May 2016. The deal emerges following a Fitch survey suggesting investors would like to see price differentiation between soft bullet and CPT maturities.
-
The market for public sector euro issuers is springing back to life after a quiet week, with two benchmarks printed on Monday and a sovereign dual tranche expected on Tuesday. But although traffic is returning, conditions are no longer as supportive as in January.
-
Asian Development Bank's first euro syndication in three years enjoyed only tepid success on Wednesday, as observers wondered if the 20 year trade was fully subscribed.
