Deutsche Bank
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South Africa is back in capital markets for the first time in over a year and the first time since its ratings were placed on negative outlook by Fitch. -
Verallia, the French maker of bottles and jars, has begun bookbuilding for its €962m IPO, which will be the largest flotation in France more than two years.
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DP World, the company responsible for operating Dubai’s ports, is buying back two of its outstanding bonds, becoming the fifth EM borrower to do so in September.
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Investors stormed into the euro public sector bond market this week fired up from the announcement of a new comprehensive stimulus package by the European Central Bank last week.
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Small cracks started to appear in the euro corporate bond market on Thursday, after a busy month, as companies launched a spate of deals. An already bulging pipeline means there will be little time for the market to catch its breath.
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L-Bank issued the first ever floating rate note linked to €STR on Thursday, ahead of the European Central Bank’s publication of the recommended new euro risk-free rate on October 2. While it has been beaten in the race to do the first deal, the European Investment Bank has announced plans for what could be the first benchmark sized transaction in the format.
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Former Deutsche Bank DCM head Miles Millard has joined ING as head of global capital markets Leo-Hendrik Greve left the job in September last year, and has now landed at boutique Bowline Capital Partners.
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Budweiser Brewing Company Apac has revived its Hong Kong IPO two months after a headline-grabbing flop. But a smaller target size, a stamp of approval from a high-profile cornerstone investor and the off-loading of an unattractive chunk of its business all mean that the firm has a better chance of success this time around. Jonathan Breen reports.
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Two DCM bankers in Deutsche Bank’s CEEMEA team have had their roles cut by the bank, including a managing director who joined only last year.
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Besides the rare offering of a Chinese issuer on Wednesday, when Jin Jiang International issued a €500m bond, euro corporate bond investors had to make do with two other deals, from Telenor and Mondelez.
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The European Investment Bank and Nordic Investment Bank kept the strong momentum going in the SSA euro bond market on Wednesday, capitalising on the European Central Bank’s announcement of fresh stimulus last week and a lack of issuance over the summer. However, Joint Laender's deal was only just oversubscribed, which the leads attributed to investors’ hesitance to buy a negative yielding 10 year bond from a less liquid name.
