Commerzbank

Germany has picked banks for its eagerly awaited 30 year green bond. Bankers expect the deal to go well since it will be one of the rare German syndications to offer a positive yield.

African Export-Import Bank launched a dual tranche dollar bond on Monday morning, with orders exceeding $3bn by midday. Emerging market bank issuers have been especially active in recent month thanks to attractive credit conditions.

Symrise, a German flavour and fragrance producer, has signed a €500m debut sustainability-linked loan, with the company one of the few to disclose that any margin change due to hitting key performance indicators will be paid directly to charity.

Ceconomy, a German consumer electronics company, has signed a €1.06bn revolver linked to sustainability metrics, becoming the latest corporate to repay state support loans taken out during the worst of the coronavirus pandemic.

Despite paying a chunky new issue premium, Deutsche Bahn was still able to score some attractive arbitrage with its latest Swiss franc deal this week, and with favourable pricing on offer for foreign names, bankers are confident more could follow.

Greece sold the first and only public sector benchmark deal of the week on Wednesday. However, issuers are preparing to return in force in euros and dollars next week, according to bankers.

Greece was the only public sector borrower to announce a new benchmark transaction on Tuesday, picking banks to lead a new five year syndicated deal.

Germany’s Finanzagentur is holding calls with investors this week to sound out interest for a planned syndication of a 30 year green bond, the sovereign’s third and longest deal in the format.

Goldman Sachs found the optimal window to return to the Swiss market this week, as local investors turn towards established names with a bit more yield on offer.

Issuers piled into Europe’s high grade corporate market on Wednesday but investor responses were mixed when it came to the deals at the tightest spreads.

Hochtief, the German construction company, has followed up its bond outing with a revolving credit facility. The deals see the company take on around €750m of debt in the run-up to its annual general meeting.

Coats, the UK industrial thread producer, has signed a $360m loan, adding environmental, social and governance metrics to its bank debt for the first time.