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Pfandbrief unflustered as NordLB subsumes Deutsche Hypo
The combination of Deutsche Hypo into NordLB has failed to cause much of a stir in the covered bond market as, even though the merged cover pools will be very different, spreads between their Pfandbrief curves have little room for manoeuvre.
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SSAs storm back into euro market amid strong backdrop
Public sector borrowers wasted no time in getting back to business in the euro market in 2021 with one live deal and four mandates all hitting screens on Monday as issuers look to take advantage of an almost full trading week and a supportive market to make a dent in their brand new funding programmes.
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Investors fret over NordLB Lux as wind-down looms
Investors holding the covered bonds issued by NordLB in Luxembourg said on Wednesday that they were concerned about prospective rating downgrades after the bank said it would be wound down and in the wake of Fitch’s announcement on Tuesday that it had withdrawn its covered bond rating.
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KfW readies seven year euro benchmark
KfW mandated banks for a seven year euro benchmark on Monday, a deal which was already expected to arrive this week and could well be the German agency’s final public deal in the currency this year.
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KfW rumoured for next week as Saxony sells only half of seven year bond
KfW could be set to hit screens with a euro benchmark next week in what may be its final public deal in the currency this year, according to bankers. The bond is likely to come with a seven year maturity, a tenor that the Free State of Saxony struggled with on Thursday, finishing with the book only around half covered.
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World Bank takes size as Hamburg lands safely after stumbling start
Two public sector borrowers managed to get euro deals done in the primary market ahead of the European Central Bank’s governing council meeting on Thursday, with World Bank issuing its biggest ever bond in euros longer than 10 years and Hamburg comfortably crossing the line despite an embarrassing start to the execution process.
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Hamburg out early with pricing after announcement error
The City of Hamburg began taking indications of interest with initial price thoughts for a 30 year bond on Wednesday afternoon ahead of schedule after one of the leads accidentally sent out a message announcing the official opening of order books.
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People moves in brief
Ex-Barclays banker joins Finsbury to develop equity advisory — Laubjerg hired for natural resources at HSBC — Rousseau leaves Deutsche and joins Citi
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Greece readies 10 year tap while Berlin heads to long end
All eyes in the primary euro public sector bond market are fixed on the expected arrival of Germany's green Bund this week, but there were still some other deals announced on Tuesday. Greece is sticking to its plan for a syndicated bond issuance every quarter and Berlin hopes to match the success of its compatriot Land NRW in the 30 year part of the curve.
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Ex-Commerz SSA trader resurfaces at NordLB
A former sovereign, supranational and agency bond trader at Commerzbank has joined NordLB after an almost two year hiatus from the capital markets.
NordLB In The Key League Tables
Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
SNCF SA EUR1.5bn 1% Jan 61
-
Spain EUR10bn 0.1% Apr 31
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CEB EUR1bn 0% Jan 31
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World Bank EUR2bn 0.2% Jan 61
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NIB USD1.25bn 0.5% Jan 26
-
EFSF EUR3bn 0% Jan 31, EFSF EUR2bn 0.05% Jan 52
-
KfW USD5bn 0.625% Jan 26
-
LBBW EUR750m 0.375% Feb 31 bail-in senior social
-
UniCredit EUR1bn 0.325% Jan 26 / EUR1bn 0.85% Jan 2031
-
Credit Suisse Group EUR1.5bn 0.625% Jan 33 / €1.5bn FRN Jan 26
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Banco BPM EUR400m 6.5% PNC5 AT1
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IADB USD4bn 1.125% Jan 31 sustainable development bond
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Italy EUR10bn 0.95% Mar 37
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KfW GBP1bn 0.125% Dec 26
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Land NRW EUR2bn 0.95% Jan 21
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 28.16 | 118 | 8.09% |
2 | Citi | 27.35 | 87 | 7.86% |
3 | BofA Securities | 20.32 | 74 | 5.84% |
4 | BNP Paribas | 19.76 | 67 | 5.68% |
5 | HSBC | 19.56 | 72 | 5.62% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 60.87 | 123 | 14.06% |
2 | Credit Agricole CIB | 28.59 | 93 | 6.60% |
3 | Santander | 25.41 | 90 | 5.87% |
4 | JPMorgan | 23.88 | 61 | 5.52% |
5 | UniCredit | 21.51 | 103 | 4.97% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Morgan Stanley | 0.94 | 4 | 13.47% |
2 | Goldman Sachs | 0.78 | 5 | 11.09% |
3 | Credit Suisse | 0.67 | 3 | 9.64% |
4 | HSBC | 0.61 | 3 | 8.77% |
5 | BofA Securities | 0.61 | 2 | 8.70% |