L-Bank in the news

  • L-Bank could kickstart wave of dim sum issuance

    German agency L-Bank steamed into the dim sum bond market on Tuesday to print what could be the start of a new flurry of offshore renminbi issuance.

    • 09 Apr 2020
  • SSA secondary pricing update: L-Bank achieves strong performance

    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.

    • 07 Apr 2020
  • L-Bank funding boss still backs auction format, despite pulled trade

    Despite an unsuccessful experience in selling a trade through an auction in March, L-Bank’s international funding officer, Sven Lautenschlaeger, has not been put off by the format. He believes it is the best way to sell a bond as it gives investors the power to set the price.

    • 06 Apr 2020
  • EU regulations could slow €STR growth

    Few MTN issuers have so far issued in the Libor-replacing euro short term rate (€STR) format, with deals limited so far to supranationals, agencies and, this week, a sub-sovereign. Some bankers blame the 2017 EU Prospectus Directive for tightening up the rules on adding new indices to programmes, leaving non-exempt issuers on the sidelines.

    • 30 Jan 2020
  • KfW slots back into zloty issuance

    KfW returned to Polish zloty issuance last Friday after a 13 year absence from the market, as it looks to tap new sources of capital.

    • 14 Nov 2019
  • L-Bank brings first €STR FRN with EIB and other SSAs to follow

    While it is no surprise that a public sector borrower has brought the first floating rate note linked to the euro short term rate (€STR), it was a surprise that a small German agency would bring the inaugural transaction, especially as it is some weeks before the European Central Bank (ECB) is due to begin publishing the recommended new risk-free rate.

    • 19 Sep 2019
  • L-Bank leads race for first €STR-linked FRN

    L-Bank is preparing to issue a floating rate note linked to €STR, the recommended new risk-free rate in euros which the European Central Bank will begin publishing on October 2.

    • 17 Sep 2019
  • Kanga market starts to heat up

    As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.

    • 25 Jul 2019
  • L-Bank USD2bn 2% Jul 24

    • 18 Jul 2019
  • Dollars provide big SSA firsts but trouble stirs

    L-Bank issued its biggest single bond in dollars this week while the Inter-American Development Bank (IADB) printed its first ever dual tranche trade in the currency. But some market participants warned that the good times at the short end of the dollar curve might be coming to an end.

    • 18 Jul 2019
  • Dollar investors offer mixed receptions to SSA trio

    SSA names found the going varied in dollars on Tuesday, with the Inter-American Development Bank only just covering the minimum size of its tightly priced short end trade while Land NRW and L-Bank saw chunkier demand.

    • 16 Jul 2019
  • SSA names hit dollars in force

    A trio of issuers burst into the sovereign, supranational and agency dollar market on Monday, as syndicate officials say they have been pleasantly surprised by how quickly the sector bounced back after a tricky period.

    • 15 Jul 2019
  • Favourable spreads offer SSA MTN sterling spree

    Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.

    • 13 Jun 2019
  • L-Bank USD1.5bn 2.375% Apr 21

    • 11 Apr 2019
  • Issuer calls on peers to stop ‘greed’ during bond executions

    Issuers are showing the same kind of “greed” they did in the run-up to the global financial crisis, according to a fiery call to arms to treat investors better from a European agency funding official.

    • 11 Apr 2019
  • L-Bank and Manitoba keep dollar wheels turning

    L-Bank and the Province of Manitoba kept the dollar SSA market busy on Tuesday, launching deals totalling $2.5bn.

    • 09 Apr 2019
  • L-Bank keeps SSA dollar trickle going

    The dollar sovereign, supranational and agency primary market has kicked off the week with an L-Bank mandate, as bankers continue to see little more than sporadic European SSA issuance in the currency in the weeks ahead.

    • 08 Apr 2019
  • L-Bank USD500m FRN Mar 22

    • 07 Mar 2019
  • Dollar pipe builds after L-Bank’s trailblazing Reg S Sofr floater

    Dollar SSA issuance is expected to pick up next week, thanks to a change in the euro/dollar basis swap that is making issuance in the currency more attractive for euro funders. There was still a smattering of dollar trades this week, including a Sofr-linked floater that broke new ground for the format.

    • 07 Mar 2019
  • L-Bank brings Reg S only Sofr trailblazer

    L-Bank on Tuesday became the first SSA issuer to sell a Sofr-linked floating rate note with Reg S only documentation. The $500m no-grow deal had over $600m of orders, with $125m of those coming from the leads — which said any stock they were left with would be useful for providing paper to investors looking to test their Sofr systems in the coming weeks and months.

    • 05 Mar 2019

Dealer League Table L-Bank

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 LBBW 1.20 8 24.72%
2 HSBC 0.44 1 9.12%
3 UniCredit 0.44 3 9.00%
4 Credit Agricole CIB 0.30 2 6.09%
5 ABN AMRO Bank 0.25 2 5.24%

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 42.49 60 10.43%
2 BNP Paribas 35.95 41 8.82%
3 Citi 29.08 41 7.14%
4 BofA Securities 25.35 63 6.22%
5 Barclays 23.24 40 5.70%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 52.40 123 11.21%
2 JPMorgan 42.18 92 9.02%
3 HSBC 33.27 93 7.12%
4 Goldman Sachs 32.16 57 6.88%
5 BofA Securities 31.86 78 6.81%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 68.22 148 8.94%
2 BNP Paribas 64.90 111 8.50%
3 UniCredit 52.84 121 6.92%
4 HSBC 47.07 140 6.17%
5 Credit Agricole CIB 46.40 107 6.08%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 132.55 362 7.62%
2 Citi 109.74 244 6.31%
3 HSBC 98.00 306 5.64%
4 BofA Securities 88.47 242 5.09%
5 BNP Paribas 85.07 178 4.89%