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Inaugural government deal could come in late 2026 or early 2027
◆ New 20 year Bund launched into popular demand ◆ Is 20 years the new 30 years for EGBs? ◆ Fair value in debate
German sovereign goes for conventional over green as smaller peers join a crowded Tuesday
issuer identifies 'most important' syndication metric amid rising international interest
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Sovereign's largest ever new issue received positively, despite issuer's many credit challenges
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The sovereign has €10bn of gross borrowing requirements this year
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Are EU bonds too cheap, or are the likes of EIB and KfW too expensive?
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Second largest book on record for the issuer after a 10 year it priced in March 2021
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Latest deal came 1bp through fair value, according to the issuer
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Interest in the once-sidelined product is growing as urgency of transition is recognised