DZ Bank
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The German State of Brandenburg is set to double the record for its longest ever syndication, after hiring banks on Monday for a no-grow €300m 20 year bond. -
Commerzbank issued the first euro covered bond since June 15 on Monday, and though it was a clear success, no other issuer ventured to follow.
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A pair of European agencies tapped euro lines today in a recovering but still cautious SSA market.
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Covered bond volumes were higher this week than last even as mounting fears of a UK decision to leave the European Union lead to greater volatility and increased execution risk.
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The International Finance Corporation has sold a $30m June 2046 linear callable zero note, in response to a series of enquiries for the product.
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BRFkredit, the Danish mortgage bank, has mandated leads for a roadshow and aims to issue its second euro benchmark covered bond.
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Westpac New Zealand’s €750m five year this week attracted the largest order book and was priced at the tightest ever spread for a New Zealand covered bond. Bank of New Zealand is set to follow.
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After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.
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Ghana Cocoa Board (Cocobod) will complete senior syndication of its $1.8bn annual loan and launch the general phase next week, according to a lead banker.
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Caja Rural de Castilla-La Mancha this week issued the first Cédulas in more than two months and swept aside concerns that peripheral issuers would need to pay lavish new issue concessions.
