Germany in the news

  • KfW USD5bn 0.625% Jan 26

    • 14 Jan 2021
  • Issuers rush into booming dollar market

    The dollar market has moved from strength to strength this week, with six SSA borrowers benefitting from the superb conditions to slash spreads and offer minimal new issue concessions.

    • 14 Jan 2021
  • KfW sells South African rand green bond

    KfW printed its first green bond in South African rand this week, reflecting the growth in demand for sustainable products outside of core currencies, according to a funding official at the agency.

    • 14 Jan 2021
  • SSA secondary pricing update: EIB and KfW perform strongly following record euro order books

    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, January 11. The source for secondary trading levels is ICE Data Services.

    • 12 Jan 2021
  • KfW senior funding official departs

    A senior funding manager at KfW who was responsible for leading the borrower’s sterling and dollar deals, has left the German agency.

    • 11 Jan 2021
  • SSAs kick off 2021 MTN market

    MTN issuance out of Asia and Sweden provided some of the week’s bright spots in what was otherwise a quiet start to the year. With the public market now in full swing, bankers expect the private placement market to get up to speed in the coming weeks.

    • 08 Jan 2021
  • KfW GBP1bn 0.125% Dec 26

    • 07 Jan 2021
  • Land NRW EUR2bn 0.95% Jan 21

    • 07 Jan 2021
  • KfW EUR5bn 0% Jan 31

    • 07 Jan 2021
  • Land NRW shows 100 year bonds becoming ‘more of a mainstream product’

    State of North Rhine-Westphalia’s third and biggest century bond built an impressive order book in terms of size and number of accounts from a diverse range of investors this week, proving this niche part of the curve is increasingly popular with buyers.

    • 07 Jan 2021
  • Land NRW sells biggest century bond as euro SSA market returns with a bang

    Public sector borrowers soaked up huge demand in the euro market on Tuesday including the State of North Rhine-Westphalia, which printed its biggest ever 100 year bond despite offering a yield of less than 1%.

    • 05 Jan 2021
  • KfW and SEK score in sterling despite tricky conditions

    KfW and Swedish Export Credit Corporation (SEK) achieved strong results in sterling on Tuesday despite extremely volatile conditions in the currency as a result of uncertainty around the impact of Brexit and the rising cases of coronavirus in the UK, which has affected swap spreads and the cross-currency basis swap for non-UK borrowers.

    • 05 Jan 2021
  • Sterling SSA market opens, but backdrop tricky

    The European Investment Bank became the first borrower to tap the sterling market in 2021 on Monday, while KfW is set to follow on Tuesday. While the opening deal went well, the issuers had to contend with some sharp volatility.

    • 04 Jan 2021
  • SSAs storm back into euro market amid strong backdrop

    Public sector borrowers wasted no time in getting back to business in the euro market in 2021 with one live deal and four mandates all hitting screens on Monday as issuers look to take advantage of an almost full trading week and a supportive market to make a dent in their brand new funding programmes.

    • 04 Jan 2021
  • MTN volumes fall as FIG issuance dries up

    The MTN market has had a tough year, as central bank support programmes and rampant public market issuance ate away at the volume done in private markets. Most notable was the 42% decline in bank issuance, which made up the majority of the year’s fall in MTN volume.

    • 22 Dec 2020

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 4.88 3 16.63%
2 HSBC 3.99 3 13.59%
3 JPMorgan 3.00 3 10.22%
4 Citi 2.89 2 9.85%
5 Barclays 2.33 2 7.92%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 7.41 12 15.37%
2 Deutsche Bank 4.69 6 9.73%
3 JPMorgan 4.60 9 9.55%
4 BMO Capital Markets 3.83 3 7.95%
5 BofA Securities 3.72 5 7.73%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8.94 15 10.68%
2 HSBC 8.30 9 9.91%
3 SG Corporate & Investment Banking 7.46 7 8.91%
4 UniCredit 7.12 11 8.50%
5 Citi 6.84 7 8.17%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 14.79 19 9.78%
2 JPMorgan 14.45 40 9.56%
3 HSBC 12.32 18 8.15%
4 Deutsche Bank 10.51 17 6.96%
5 SG Corporate & Investment Banking 9.06 9 6.00%