Citi

Deutsche Pfandbriefbank, nationalised during the financial crisis, made its stockmarket debut on Thursday and traded up 6.5%, after pricing its IPO on Wednesday evening at the bottom of the range.

A strong performance from issuers in dollars this week means that more borrowers should look at printing in July, said SSA bankers.

A high yield credit trader has left Citi in London and is heading to Barclays.

The Republic of Zambia and Georgian firm Rustavi Azot kicked off roadshows this week, providing hope that a reopening of the CEEMEA sovereign and corporate markets — courtesy of Kazakhstan and Naspers — maintains momentum.

Kazakhstan, Naspers and Renaissance Services reopened CEEMEA new issuance this week, relieving cash gorged investors of $5.325bn between them, in the second largest week for the region so far this year, writes Francesca Young

Chinese wealth management service provider Jupai Holdings priced its $53m IPO on the New York Stock Exchange at the bottom end of guidance on July 16, as its selling shareholders reined in the number of secondary shares on offer.

South Korea’s Nonghyup Bank made a rapid return to the offshore bond market on July 15. Having learned lessons from its reduced outing last year, the Korean lender shuffled its banks and opted to raise just $300m. More importantly, bankers believe this deal could act as price guidance for Kookmin’s upcoming covered bonds.

Deutsche Pfandbriefbank, nationalised during the financial crisis, has priced its IPO on Wednesday evening, at the bottom of the range, giving it a market capitalisation of €1.45bn.

Three block trades took place on Tuesday night, as Europe’s equity capital markets appear to be returning to normality after the stress of the Greek debt negotiations of the past few weeks.

Garfunkelux Financial Services, a German debt collection company, on Wednesday became the first European company to break the ice in the mainstream euro high yield market by starting a roadshow for a €365m deal.

Kazakhstan printed a gigantic $4bn dual tranche bond this week, drawing a book of around $9.5bn for the notes.

Naspers reopened the market for CEEMEA corporates this week. But the rare nature of the credit means that few other borrowers can get away with similarly modest — if historically slightly elevated — premiums, said bankers on the deal.