LBBW
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PKO Bank Hipoteczny has mandated leads to go on a roadshow with the first euro benchmark covered bond from Poland.
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RLB Oberösterreich issued its first covered bond benchmark this week attracting the widest ever audience for any Austrian covered bond issuer, burying lingering concerns over long term fallout from Heta.
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LBBW and Crédit Agricole rode through this week’s spread volatility to price tier two bonds before the Federal Reserve’s Wednesday policy meeting.
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The Cover’s 10th annual covered bond awards took place this year at the Rheinterrace in Düsseldorf on Thursday, September 15.
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The Austrian bank issued its first benchmark covered bond on Tuesday. The deal was highly oversubscribed even though the final spread offered little concession. -
The Flemish Community of Belgium has announced that it will roadshow a euro syndication on September 26, while KfW has mandated three banks to sell a benchmark.
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LBBW rode through last week’s volatility to raise €500m of tier two capital on Monday. Though order books may have shrunk in size, the bank was not forced to pay up and many accounts participated in the trade.
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German automotive parts manufacturer Ifa Rotorion grew its Schuldschein from €100m to €140m in syndication, reaching the maximum amount the borrower was willing to take, according to one banker.
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Unione di Banche Italiane’s (UBI) €1bn 10 year Obbligazioni Bancarie Garantite was priced tighter than UniCredit’s €1bn 10 year and well through BTPs, though it relied more heavily on domestic buyers.
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Raiffeisenlandesbank Oberösterreich has mandated joint leads for its first benchmark euro covered bond and the Bank of Queensland has hired leads to explore options for a potential structure.
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The German lender has appointed leads to market its first senior unsecured green deal from next week.
