Deutsche Bank

Deutsche Bank is relying on a tight team of loyalists to revive its corporate finance ambitions, writes David Rothnie.

AerCap Holdings has amended and extended its revolving credit facility, with the Dutch aircraft leasing company bumping up the size of the deal to $4bn and stretching out the maturity.

India’s non-banking financial companies have been under fire for the past year, after the collapse of Infrastructure Leasing & Financial Services (IL&FS) in 2018 spooked investors and dragged down the sector. But Muthoot Finance, a gold financier, proved this week that some capital-starved NBFCs can still find an audience in the international bond market. Morgan Davis reports.

Warehouse construction firm and lessor ESR Cayman relaunched a bigger Hong Kong IPO this week, four months after pulling its first listing attempt because of volatility. But a revamped syndicate team and positive momentum in the local IPO market have given the new deal some impetus, writes Jonathan Breen.

Vietnamese companies are increasingly turning to the offshore loan market, providing bankers with relief amid a wider slowdown in Asia. Pan Yue reports.

Chinese state-owned commodity chemicals producer Shanghai Huayi (Group) Co has sold an almost 10 times covered five year bond, while Yuzhou Properties Co raised $500m to fund a tender offer. Two local government financing vehicles also made their offshore debuts.

Instituto de Crédito Oficial (Ico) and Investitionsbank Berlin (IBB) found strong demand in the short end of the euro curve on Wednesday, which SSA bankers are calling the new sweet spot, despite the deeply negative yields.

CPPIB Capital underwhelmed with its return to the 10 year dollar market on Tuesday, giving further evidence of slowing demand following a string of trades in this part of the curve in recent weeks.

The stars aligned for French drink company Pernod Ricard’s return to the bond market, with the issuer printing flat to its curve, or even through it by some estimates, in its first outing since being upgraded by two credit rating agencies.

UK motion picture visual effects company DNEG is pushing ahead with its IPO on the London Stock Exchange, having formally confirmed its intention to float on Tuesday.

Muthoot Finance raised $450m from its maiden dollar bond on Monday, after showing investors the difference between its operations and that of other beleaguered Indian non-banking financial companies (NBFCs).

Private equity-backed single-Bs are hitting the high yield market with a rapid-fire of refinancings. Evoca, Recordati and Schoeller Allibert priced successfully on Friday.