LBBW
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The first public deals of the year in the long end of the euro curve from the supranational and agency sector arrived on Monday, with the trades receiving huge demand and pricing exceptionally tight to secondary levels. -
LBBW and Banque Fédérative du Crédit Mutuel (BFCM) were met with muted demand on Monday morning as the pair ventured into a busier, yet weaker market in search of senior non-preferred debt.
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The European Central Bank's various purchase programmes are set to continue shaping covered bond issuance next year, but away from the reach of the ECB, more niche markets are expected to flourish. Collected below is a selection of GlobalCapital’s covered bond outlooks for next year.
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New MENA heads at Citi and Goldman Sachs — Julia Hoggett moves from FCA to LSE — LBBW hires Sim for Asia team
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LBBW has hired Buck Khim Sim to join it primary markets team as part of its strategy to build up its presence in Asia.
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Sub-benchmark deals are not so much of a novelty anymore: a trio of rare names filled their boots with diminutive deals this week, with each attracting bumper demand.
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Two public sector borrowers hit the euro bond market on Wednesday, raising what might well be the final benchmark funding of 2020.
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The European Union impressed once again as it sold the third bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme on Tuesday.
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As benchmark issuance remains on the side-lines, smaller issuers have come out to play, with rare borrowers Cassa Centrale Raiffeisen dell’Alto Adige and Luminor Bank on the hunt for deals Lilliputian in size on Tuesday. A handful of larger issuers are keeping a close eye, and could come to the market with small deals of their own in the coming weeks.
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The European Union’s third outing to fund its Support to Mitigate Unemployment Risks in an Emergency programme is set to hit the market on Tuesday in the shape of a 15 year tenor — matching the maturity of its loans.
