Deutsche Bank
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Following last week’s record-breaking Gilt syndication, the UK returned for another impressive result, scooping up £7bn from a £52bn book and pricing with a minimal new issue premium, according to the leads. -
ING has become the latest EU bank to sell subordinated debt during the coronavirus crisis, after capitalising on healthy levels of demand for its tier two paper on Tuesday.
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Intesa Sanpaolo became the first Italian bank to raise funding during the coronavirus pandemic this week. It offered a healthy premium for its five year senior deal, but the bonds have performed very well in the secondary market.
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Bank of America became the first global commercial bank to print a Covid-19 response bond this week.
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Zhenro Properties Group has ended the long absence of Chinese property companies from the dollar bond market, raising $200m from a transaction that was more than 10 times oversubscribed at its peak.
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Euro area banks are expected to make use of the relaxation of their Pillar 2 capital requirements by issuing more capital instruments in the coming months, following the example set by Deutsche Bank this week.
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Deutsche Bank has hired Kamran Khan to head its environmental, social and governance efforts in Asia Pacific.
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Banks are spying new opportunities with green and social bond funding, with the asset classes having outperformed in the credit markets during the coronavirus crisis.
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High grade corporates filled the primary bond market again on Wednesday, with issuance levels this week looking likely to hit almost €20bn on the back of record weekly European Central Bank bond buying.
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Europe’s high grade corporate bond market pumped out deals on Tuesday, with some defensive issuers managing to print inside fair value while some of the day’s more esoteric picks had to pay up even for short maturity debt.
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Public sector borrowers found plenty of demand as they hit the market with dollar deals across the curve on Tuesday. With robust demand and a favourable basis swap for euro funders, more issuers have lined up deals in the currency to follow.
