Bank of America

Upgrades and positive outlooks flooded in for Mexican issuers this week after the sovereign’s upgrade to A3 from Moody’s on February 5, but EM bond investors are struggling to take advantage as they say paper from the region is scarce.

Sberbank is targeting a 10 year non-call five deal or a 10 year bullet note for its subordinated bond, but would prefer the former, according to a source close to the deal. The note is expected to be priced later this week, with Sberbank’s roadshow finishing on Wednesday.

One of Europe’s most frequent high yield issuers, Fresenius, is back in the market. The German healthcare business wants to sell its fifth transaction of the year — this time in dollars.

Sberbank is roadshowing a tier two bond in the US and Europe from Monday to Wednesday next week and could become the first bank to try to issue under Russia’s updated Basel III framework for subordinated debt.

Sberbank is roadshowing a tier two bond in the US and Europe from Monday to Wednesday and will try to issue under refined documentation language with regards to Russia’s Basel III framework for subordinated debt.

Deutsche Bank has promoted its head of ECM Asia, Ashok Pandit, to a new role covering sovereign wealth funds and is moving a senior equity banker from its European team to replace him.

Bayer, the German drugs, pesticides and chemicals company, launched its first substantial euro bond for four years today, raising €2bn with a three tranche issue that was priced to achieve hefty size and found strong demand.

There is no deal too big to get done — that is the message for CEOs wondering about taking the plunge on M&A. Verizon’s jumbo takeover, financed in less than a fortnight, demonstrated just how obliging banks and investors will be when offered large amounts of cheap debt — a good sign for companies ready to make a move in 2014, writes Stefanie Linhardt.

Bank of America Merrill Lynch’s aggressive expansion in Europe is striking fear into its rivals, writes David Rothnie.