Deutsche Bank

Banks backing Cinven, KKR and Providence’s take-private of MasMovil have boosted the size of the euro loan tranche in the market this week by €500m, cutting down the planned bond that will fund the remainder of the deal, the first major LBO announced in Europe since the coronavirus crisis.

Bayer, the German life sciences company, enjoyed blow-out demand for its €6bn multi-tranche bond issue on Wednesday, days after agreeing to pay up to $10.9bn to settle a lawsuit over claims its weedkiller, Roundup, causes cancer.

The 15 year tenor is the flavour of the week in the SSA market. Three issuers have mandated for deals at the tenor so far, following on from NRW.Bank’s successful trip to the maturity on Tuesday.

Neal Ganatra has been promoted to be Deutsche Bank's new head of SSA syndicate.

NRW.Bank signalled to the market that there is demand at 15 years with its inaugural social bond on Tuesday. Following the deal two other European issuers, Bank Nederlandse Gemeenten and Portugal, mandated for deals of their own in the tenor.

Assicurazioni Generali and Uniqa Insurance are each looking at selling tier two capital from their green bond frameworks, using a quieter period in the new issue markets to explore more complicated and multi-faceted transactions.

Chinese property companies Times China Holdings and Golden Wheel Tiandi Holdings Co took a combined $470m from the bond market on Monday.

China Bohai Bank has jumped into Hong Kong’s bustling IPO market, opening books for a HK$14.3bn ($1.85bn) listing.

DirectBooks, which plans to bring a new issuance platform for bond markets, has not ruled out the possibility of a partnership with other providers.

Hannover Re gave away a bit of premium for a new tier two this week, after it touched on the lower bound of the spreads available in the market for insurance capital.

Property managers Greentown Management Holdings and Zhenro Services Group launched bookbuilding on Monday for Hong Kong Stock Exchange IPOs.

With SSA issuers' programmes rising to accommodate their responses to the coronavirus pandemic, the volume of deals transacted in niche currencies is closing in on a record high. With offshore interest in local currency deals healthy, however, many major banks are missing out on a busy and increasingly active market.