Deutsche Bank
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Banco BPM extended the run of recent Italian bank bond supply this week, launching a preferred senior bond. The deal was launched at 200bp over mid-swaps and did not offer a new issue premium to investors, according to a banker on the deal. -
ESR Cayman, a warehouse construction firm and lessor, has boldly returned with a bigger IPO target after delaying its first go at listing earlier this year.
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BMW Finance returned to the Panda bond market with a Rmb3bn ($424m) dual-tranche private placement note. It was the company's third outing this year, but this time the German automaker substituted the three year tranche with a two year note.
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Vietnamese conglomerate Vingroup Joint Stock Company and its automobile subsidiary VinFast have returned to the loan market, seeking a total of $500m in senior syndication.
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Nomura’s Cicchine heads for Deutsche — Macquarie finds head for new lending group — Citi promotes ECM bankers.
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Investors jumped on the opportunity to buy euro bonds with a positive yield in the public sector market this week as KfW and Kommunalbanken sold 15 and 10 year bonds respectively, with the latter returning to the currency for a benchmark for the first time since 2017.
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Kommunalbanken was almost twice covered for its 10 year euro trade on Thursday as it returned for its first benchmark in the currency since 2017.
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Paolo Cicchine will join Deutsche Bank as vice-chairman of global healthcare coverage.
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Investors have piled into bonds to fund the buyout of UK theme park operator Merlin, despite the covenants on the unsecured debt being considered the worst ever. Meanwhile, the “net short” provision, designed to curb CDS investors, looks to have made it to the final documentation for the first time in a European deal.
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Chinese real estate company Kaisa Group Holdings chose to go down the 144A route for its latest bond, raising $400m from a deal that hit the higher end of its size expectations. But bankers say it is unlikely many issuers will follow suit. Addison Gong reports.
