KfW
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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. -
The German government has waved through a €9bn bailout package for flag carrier Lufthansa, paving the way for the state bailout fund to own up to 25% of the company.
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Deutsche Lufthansa, the airline, is in advanced talks for a €9bn bailout from the German state, amid a flurry of European governments pumping billions of dollars into the ailing airline industry.
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This week's funding scorecard looks at the progress of Europe's supranationals and agencies in the middle of May.
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Despite a crash in dollar swap spreads as the US Treasury announced a record borrowing binge this week, SSA bankers remain bullish on supply, with KfW rumoured to be plotting a return to dollars after leaning heavily on euros for its benchmark funding this year.
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On a busy day for corporate bond issues, with prestigious competing deals including from Nestlé, Swisscom is nevertheless hogging attention with its debut green bond, which comes alongside another green debut, for power networks group Eurogrid.
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In the first in a new series of crisis-time interviews with senior capital markets participants, GlobalCapital's Toby Fildes talks to Frank Czichowski, treasurer of Germany's KfW.
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Greece is looking to become the latest eurozone sovereign to sell a seven year syndicated bond, after mandating banks on Tuesday for the transaction.
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This week's funding scorecard looks at the progress of Europe's supranationals and agencies in early April.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, April 6. The source for secondary trading levels is ICE Data Services.
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KfW made an impressive statement by taking out size with a small new issue premium for a three year euro deal on Wednesday. Bankers say the deal is a sign of concessions reaching a floor following the huge premiums offered since the return of SSAs to the primary market.
