Citi
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Markets may have contributed to falls in profits in the investment banking divisions of the US majors that reported third quarter results this week, but there were some silver linings among the clouds, including a year-on-year reduction in legal bills of billions of dollars between them.
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Deezer, the French music streaming service, opened the book for its IPO on Thursday morning, as the autumn’s busy season of flotations continues to produce successes, failures and deals that get done at weakened terms.
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Dollar pre-funding is unlikely to be a feature of the fourth quarter this year as crushed swap spreads and a lack of direction from the US Federal Reserve force out SSA borrowers.
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Senior SSA bankers are fretting that situations such as this week's clash between two Dutch agencies, which drove one of the pair to pull its deal, could become unavoidable, writes Craig McGlashan. -
Garfunkelux, the German debt collection company, on Thursday issued £795m of notes in the first sizeable European high yield issue for three weeks. Market participants are now eager to see if other issuers finally follow in its steps.
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Bank of Ireland and Caja Rural Unidas issued this week’s only two covered bonds from Europe’s periphery, both offering attractive concessions.
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As the primary US banks release earnings for the third quarter there is little sign of panic in options markets despite overwhelmingly negative expectations.
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After printing an eight year FRN last week, Deutsche Bahn came again this Wednesday with a €600m fixed rate offering that drew sizeable interest from Asian buyers.
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A Dutch brewing company has made a rare appearance in the private medium term note market with a 10 year note, joined by a trio of its continental peers that went even further down the maturity curve.
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Landsbankinn walked away with €300m of three year money on Monday as Icelandic debt made a return to the FIG market.
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BoC Aviation has notched up a new landmark for Asia by becoming the first issuer from the region to sell an aircraft leasing ABS. Market observers are buoyed by the landmark transaction and hope it will spur similar deals from Asia and particularly China, writes Rev Hui.
