Luxembourg

In this round-up: January-February industrial profits plummet, Luxembourg Stock Exchange agrees to post China domestic green bond data, Shanghai tech board waves through eight more

NordLB’s Luxembourg subsidiary extended its covered bond curve on Wednesday with an well received five year public sector backed deal. The bonds offered a very attractive spread for a deal from a core European jurisdiction, ensuring that demand from a diverse audience was quick to build.

Chinese and French banks may take advantage of a new Luxembourg green covered bond law, where the cover assets are linked to renewable energy, according to an official at the Luxembourg Stock Exchange (LuxSE).

Banque Internationale à Luxembourg issued a senior non-preferred bond on Wednesday as it looked to boost buffers ahead of receiving its minimum requirements for own funds and eligible liabilities (MREL).

Investor appetite remains strong for longer dated euro SSA bonds, encouraging the likes of EFSF and KfW to tap the long-end of the curve this week. But the question is: will the demand last, and for how long?

The European Investment Bank threw itself into a new type of sterling deal with aplomb, making a splash with a £1bn floater referencing the Sonia benchmark, in what bankers believe may become the new standard for the market.

The European Investment Bank has released initial price thoughts for a sterling benchmark floater referencing Sonia — a trade that dominated many conversations at this week's Euromoney Global Borrowers conference in London. The deal will be priced on Friday.

Bank of China (BOC) returned to the bond market with a Belt and Road blockbuster this week, raising around $3.2bn from a multi-tranche, multi-currency deal. Addison Gong reports.

Mireille Dyrberg, the former COO of Nex Group fintech subsidiary TriOptima, has joined data reconciliation firm Duco.

International investors will be getting a more transparent look at China’s domestic green bonds, following a new initiative from the Luxembourg Stock Exchange (LuxSE) and the Shanghai Clearing House.

Guarantors: Kingdom of Belgium (51%), Republic of France (46%) and Grand Duchy of Luxembourg (3%)

The day after a jumbo corporate bond issue is often a quiet one for new issuance as investors digest their allocations and assess the impact on secondary spreads. But after Sanofi's €8bn offering on Wednesday, Thursday was another bumper day.