German Sovereign
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KfW extended its syndicated euro curve to 2039 on Monday as it brought a new 20 year line that was priced flat to fair value. -
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A reverse enquiry was the catalyst behind KfW’s decision to print its first Swedish krona note of the year on Wednesday — one of the largest krona deals issued by the German agency.
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An attractive Scandinavian market led two European sub-sovereigns to print private notes this week.
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The Autonomous Community of Madrid has participated in a ‘proof of concept’ Schuldschein transaction on blockchain with BBVA. The loan is also sustainability-linked.
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The Federal State of Saxony-Anhalt issued its debut Norwegian krone bond on April 1. The treasury was pleased with a successful private placement that could open up a new funding market for Saxony-Anhalt.
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Public sector borrowers were able to achieve zero or negative new issue premiums and close books early in the euro market on Tuesday as investors piled into haven assets amid a weaker outlook for global growth.
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A trio of public sector borrowers hit screens with mandates on Monday ahead of what SSA bankers say will be a busy week of supply following a glut of benchmark issuance towards the end of the first quarter.
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A senior director in the capital markets funding team at a German agency has left to join UniCredit’s FIG team in Munich, GlobalCapital understands.
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With yields compressed in the short end, bank treasuries are moving further along the SSA curve for bigger returns, creating a sweet spot in the 15-20 year segment.
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Germany saw strong demand this week for its first 10 year auction with a negative yield since May 2016, as investors pile into safe haven assets amid fears of a global slowdown in growth.
