Banks
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Goldman Sachs’s much-trumpeted middle-market investment banking initiative is being overshadowed by the bank’s natural affinity for the biggest and most complex deals, writes David Rothnie. -
Oldenburgische Landesbank (OLB) launched a €100m of additional tier one (AT1) capital on Thursday, with new issuance in the asset class remaining skewed towards sub-benchmark transactions.
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Leasys, an Italian car rental company, and similarly rated commercial property investor Lar España Real Estate competed for investor attention on Thursday with debut green deals, in a major test for the type of esoteric issuers that typify the slower summer market.
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A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, after a series of eye-catching transactions in recent weeks following the biggest IPO in the area for almost three years.
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LBBW priced its first euro green non-preferred bond in two years at one of the tightest spreads of the year so far for the format, while still offering investors scope for secondary performance.
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African Development Bank and New Development Bank received ample demand in the primary dollar public sector bond market on Thursday, allowing the supranational borrowers to print chunky deals.
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The Republic of Benin launched its debut SDG (Sustainable Development Goals) bond in its second international offering of the year, following a two year hiatus. Market participants say although deals like Benin’s are getting over the line, concerns are brewing over the sustainability of high yield sovereigns tapping investors so freely.
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UniCredit’s CEO Andrea Orcel has revealed further refinements to the bank’s organisational structure that are aimed at increasing the independence of its new regional divisions.
