Deutsche Bank
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The State of Israel executed its second $5bn bond of the month on Monday with an opportunistic Formosa print that showed an issuance route for other highly rated emerging market names. -
Diageo, the UK distiller, visited the booming dollar bond market for $2.5bn on Monday, as Europe’s syndicate bankers say they are getting more requests from companies to print debt on the other side of the Atlantic.
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US companies Amphenol Technologies and Air Products and Chemicals have mandated banks for euro bond issues, as bankers expect Reverse Yankee issuance to rise after a spell of record-breaking volume in the dollar market.
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Deutsche Bank’s additional tier ones surged higher in value this week, after the German lender reassured the market with positive guidance on its first quarter earnings.
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Adani Electricity Mumbai has decided to close its debut offshore borrowing as a club deal with eight banks, bringing an end to long-running discussions about a possible syndication.
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The coronavirus pandemic is shaking up the competitive landscape in capital markets, as some firms find it harder to commit to deals — but there are winners, too, and one of the most notable cases is BNP Paribas’s presence in the syndicated loan market.
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Swedbank was paying less than fair value for a new euro senior deal on Friday, according to market participants, with the bank raising funding a day after publishing its first quarter results.
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Shandong Qingyuan Group Co, a Chinese manufacturer and distributor of petrochemical products, is in talks with lenders to delay payment on a $1bn loan sealed last September as volatile oil prices take a toll on the company’s business.
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Jana Hecker, most recently at Deutsche Bank, has been appointed global head of equity capital markets at UniCredit, alongside other personnel changes in the Italian bank’s ECM business.
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Europe’s high grade corporate bond market faced one of its biggest tests on Wednesday, with France’s Auchan, which operates in the heavily disrupted retail sector, getting a deal away with one of the larger new issue concessions seen in recent weeks.
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Any concerns over Italy’s market access were vanquished on Tuesday when the sovereign received €110bn of orders for a dual tranche bond syndication, allowing it to raise €16bn as it makes inroads into its enlarged funding task in response to the coronavirus pandemic.
