German Sovereign
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Two more bankers have ditched NordLB to take on DCM roles at Helaba, as the firm looks to expand its covered bond business. -
NRW.Bank has mandated banks to arrange a series of virtual fixed income meetings as it looks to present its new social bond framework to investors ahead of a debut deal in the format.
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The European Investment Bank and the State of Brandenburg have mandated banks to bring euro deals on Thursday, in what has been an extremely thin week for supply with issuers well funded and some weakness in secondaries.
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Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.
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Dr Jörg Kukies, State Secretary for Financial Market Policy and European Policy at the German Federal Ministry of Finance, speaks to GlobalCapital’s Managing Editor, Toby Fildes, on Covid-19, European policy and Germany’s financial markets.
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Three borrowers hit screens in sterling this week, giving the currency its biggest workout for months. Two returned to the market to take advantage of a more advantageous cross-currency basis swap but a third is taking a strategic approach.
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Two sovereigns pulled off successful deals on Wednesday, adding to the pile of syndicated European government bond issuance this week.
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After three eurozone sovereigns hit the primary market on Tuesday, more supply will follow on Wednesday with Germany setting its sights on its second syndicated transaction after returning to the format in May, helping it deal with a much bigger funding programme in response to the coronavirus pandemic.
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Germany is set to announce extra fiscal stimulus next week, a portion of which will be dealt with at regional level. But one state treasury official does not believe it will affect his Land's borrowing programme.
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The International Finance Corp returned to the Australian dollar bond market to fund its response to the coronavirus pandemic on Monday, while at the end of last week BNG capped the strongest month for SSA Kangaroo deals for over nine months.
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KfW has made the first adjustment to its 2020 borrowing needs by doubling the size of its US commercial paper programme, with the Gerrman agency set to review its overall funding target at the end of June.
