German Sovereign
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The German state of Hesse was marketing its new green bond framework this week ahead a of a debut deal in the format.
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Greece and NRW.Bank added to the week’s primary euro public sector supply on Wednesday ahead of a closely watched European Central Bank governing council meeting on Thursday.
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KfW sold its first Sonia floating rate note on Wednesday, with the deal pricing at the tightest ever spread for the product in syndicated format.
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The State of North Rhine Westphalia launched a dual tranche bond on Thursday, having postponed the deal due to last week’s crowded and volatile market.
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Three public sector issuers hit the market with euro deals on Tuesday, but each opted to raise €500m or less. Their success could embolden Land NRW to return with its deal, but the market has yet to be tested by an issuer of its class.
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Two SSA issuers were expected to follow Tuesday’s outing in euros from the EU, but only one elected to brave the market on Wednesday.
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CDP Financial, one of Canada's largest public pension asset managers, joined three other public sector borrowers in the dollar market on Tuesday to sell its debut green bond.
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The European Investment Bank failed to impress market participants on Tuesday with an order book far smaller in size than usual for an Earn benchmark and no move in the spread after guidance.