Germany
-
The renewable energy company will use proceeds from the sale of its stake in a windfarm to pay down drawn balance -
◆ First five year dollar from the issuer since 2021 ◆ L-Bank print provided building block ◆ Further dollar deals planned
-
◆ Investors flock to €300m print ◆ Bond priced flat to fair value ◆ Deal spotted tighter almost immediately in secondary
-
◆ Bond priced flat to fair value ◆ 'Pros and cons' for tightening ◆ No-grow tactic deployed
-
Bankers expect lack of competing supply from larger names will drive strong outcomes
-
◆ German lender enjoys window alone ◆ Eye-catching spread attracts bumper book ◆ Deal lands close to fair value
-
◆ Deal is BHH's last before LBBW integration ◆ Investors eager to buy but last deal status not main driver ◆ Small pick-up to SSAs
-
◆ Book halves after tightening ◆ Bond prices at fair value ◆ Tightening by 1bp could 'kill a trade for the German states right now'
-
Lunar New Year celebrations and Federal Reserve and ECB meetings will reduce issuance this week
-
Dual tranche deal set to be German lender's last ahead of its integration with LBBW
-
◆ German states find price sensitivity in latest transactions ◆ Bremen sticks, Hamburg twists — but orders drop ◆ KfW spread drives Länder love
-
◆ Slim book for German lender ◆ Investors hesitant over spread to SSAs ◆ Single digit concession needed
