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◆ Spread to Land Hessen key to pricing ◆ Leads thought long and hard on whether to tighten ◆ 1bp move the right amount as book grew
◆ Three German states brought a new Joint Länder bond ◆ No book update, KfW curve guides pricing ◆ Flemish Community prints new 15 year
Second digital project won’t be the issuer’s last, Länder peers may be ‘interested and willing’ to join in
◆ Half-year close keeps some issuers on sidelines ◆ Bankers expect big euro supply to come ◆ More concession on pricing could be required
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ALS and CDC print in euros, competing for attention alongside German and Spanish sub-sovereigns
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KfW's 'prime product' achieved double figure oversubscription as investors crowded in
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German issuer’s first sustainability deal was many times covered
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Strong demand saw German Land issuer almost double its target size
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High premium needed to get small deal over the line
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French region was among two smaller SSA issuers in euros while a Washington-based supranational tapped Nordic markets