Deutsche Bank
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Seventeen banks joined the underwritten 18 month deal -
The bank is reducing its reliance on leveraged finance with big ambitions in M&A and ECM
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Deal includes $1bn 3.75 year term loan
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The German pharmaceutical wholesaler was upgraded to BBB- by S&P last month
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Oil major attracts 20 banks to two year loan underwritten by BNP Paribas and Société Générale
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◆ Largest euro SNP book since February ◆ Extra spread on offer versus other major bank issuers ◆ Instant secondary performance
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Financial institutions specialist heads to German bank
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The new European Secured Note market is keen to secure regulatory recognition for the new product but there are advantages to not having it
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Borrowers have been busy already this year so the pressure to issue is off
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◆ German issuer's covered was 3bp inside previous tightest ◆ Banker said tightest covered for 2.5 years ◆ Third German covered bond this month
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◆ Order book peaked at close to €2bn ◆ Issuer announced plan to launch ESN in May ◆ Analysts predict mixed fortunes for instrument in the immediate future
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Kangaroo and Panda market grow as banks create US dollar FRNs to meet Asian demand
