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◆ Another German issuer jumps into primary ◆ Orders rush in after pricing was fixed ◆ Does spread to KfW matter anymore?
◆ Aussie issuer returns after 2025 debut ◆ Asset managers like scarce international Australian risk ◆ Canadian names used to find fair value
Andreas Becker, head of treasury and pension fund for Land NRW, discusses borrowing strategy
Others quietly wait for bloc's syndication while KfW jumps into dollars, pipeline could be 'well filled' this week
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'Records broken left, right and centre' as redemption money and pent-up demand flood new issues market
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◆ NRW tests 30 year demand ◆ both real and fast money feast duration ◆ ADB adds euro to funding mix in active 2026 start
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◆ KBN and Quebec among SSA issuers paying no NIP in dollars ◆ Quebec faces 'difficult allocation' after mega demand ◆ CEB also in five year dollars
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◆ ‘Very rare’ large book for a German sub-sovereign ◆ ‘New year, new levels’ in price discovery ◆ Tuesday’s focus on dollars, but ‘big’ euro mandates expected Wednesday
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German issuer expected to seize 2026's first window for fourth year in a row
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‘Exciting’ cross-market relative value opportunity on offer as issuers aspire to become regular euro visitors