NordLB
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NordLB’s Luxembourg subsidiary issued its longest maturity covered bond on Tuesday and paid a paltry premium, but the double digit pick-up failed to draw much excess demand.
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DG Hyp and Deutsche Hypo launched the only two benchmark covered bonds of the week, and though both deals were priced tightly, they attracted a lot of demand.
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Funke Mediengruppe, the German media group, has agreed an extension to its loan facilities, in one of the few amend-and-extend operations so far in 2016. -
The primary covered bond market was active this week with as many as seven issuers raising more than €6bn, including the longest deal in over a year and a debut borrower in euros.
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Swedbank and SEB this week launched deals that attracted the largest order books and the widest distribution of any covered bonds issued this year, along with the smallest concessions.
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Volatility has pushed FIG senior supply to its lowest January total since 2008, but a resilient covered bond market profited from the gloom, with issuance at its strongest since 2012.
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Deutsche Pfandbriefbank took a plunge into the euro senior market on Thursday, overcoming an uncertain backdrop to print a deal that leads claimed could transform its future investor base.
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Deutsche Pfandbriefbank took a plunge into the euro senior market on Thursday, overcoming an uncertain backdrop to print a deal that leads claimed could transform its future investor base.
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The State of Baden-Wüerttemberg and NRW.Bank priced deals in euros on Wednesday thus avoiding a clash with Thursday's European Central Bank meeting.
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While markets have been badly affected by a mixture of worrying economic data from China, falling commodity prices and a continued slump in many emerging markets, the SSA market looks solid.
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The State of Baden-Württemberg announced on Tuesday its intention to print a 10 year euro benchmark in a week in which investors await a decision on Thursday from the European Central Bank regarding interest rates.
