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Landesbank Hessen-Thüringen Girozentrale (Helaba) and WL Bank met contrasting outcomes for their euro denominated German Pfandbriefe issued this week.

Two borrowers from Denmark and Norway launched their first euro denominated covered bonds this week, expanding the number of issuers to a new record.

Crédit Agricole raised €3.25bn as it issued the biggest euro covered bond benchmark since 2007 on Wednesday, achieving a competitive cost of term funding at historically cheap rates.

Lufthansa is in the market with a €300m Schuldschein, choosing the instrument as it offers cheaper rates than the bond market, according to a spokesperson for the German airline.

Berlin Hyp (BHH) issued the first negative yielding fixed rate euro covered bond on Tuesday, days before the European Central Bank lowered the discount rate further into negative territory.

Porsche AG has grown its Schuldschein from the launch size of €200m to €1.1bn, in another big deal for the private debt market.

KfW was set to print its third euro benchmark of the year on Wednesday as GlobalCapital went to press and SSA borrowers rush ahead of next week’s European Central Bank meeting.

The SSA market has seen a deluge of deals this week as issuers in both dollars and euros look to raise funding before the European Central Bank and the US Federal Open Market Committee meet in coming weeks, which could cause disruption.

KfW is set to print a 10 year euro benchmark, following in the footsteps of Belgium and Finland, this week as issuers attempt to conclude funding before the European Central Bank’s meeting on March 10.

Daimler brought its second triple tranche bond of the year to market on Tuesday, as primary issuance in the corporate market began to crank up.

This week the Schuldschein market completed what could be its second largest deal ever, for Aldi subsidiary Hofer, and also launched its first two green deals — in what looks like another impressive year for the market.

The Schuldschein market has just completed what could be its second largest ever deal — for around €1.6bn — in an especially private transaction for Aldi’s Austrian subsidiary, Hofer.