Citi

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.

Jumbo transactions from Japanese banks are nothing new when it comes to the international debt market although Sumitomo Mitsui Banking Corp (SMBC) did surprise some by opting to pay up with a $3bn four tranche offering on July 14.

Korea National Oil Corp (KNOC) has announced a series of investor meetings in Asia, Europe and US as it gears up for the first offshore bond of 2015.

The future of Greece as a eurozone country was hanging in the balance on Wednesday — all but shutting down the euro benchmark market for public sector borrowers.

Tianjin Binhai New Area Construction & Investment Group Co and Nonghyup Bank braved volatile market conditions to open books for their respective US dollar bonds on Wednesday, as the world waits for signs of a concrete debt restructuring deal from Greece.

Citi has named Christian Kames investment banking head for Germany, Austria and Switzerland.

Kazakhstan opened books on a dual tranche dollar bond on Tuesday morning, and is looking for at least $2bn, according to a source close to the deal. Debt bankers away from the bond felt confident size would not be an issue, but were divided over whether the start point was appropriate or very cheap.

South African firm Naspers opted for a 10 year tenor for its first deal in two years. Debt bankers away from the deal applauded the decision, but could not agree on the premium the deal offered.