Deutsche Bank

DP World is embarking on a roadshow to market a new 10 year benchmark Reg S dollar sukuk. It is also considering long dated Reg S-only dollar funding.

A pair of rare European companies placed large MTNs through Deutsche Bank on Monday. Investors poured into in a seven year tap by Heineken, while Volvo revved in with a 10 year dollar note.

India’s securities regulator has given the greenlight for Sterling and Wilson Solar’s IPO, which could raise up to Rp45bn ($655m).

Shimao Property Holdings and China Overseas Land and Investment took advantage of a strong market backdrop and renewed investor interest in duration to price seven and 10 year bonds, respectively.

Italy has hired banks to tap its 2.8% March 2067 BTPs, as the week's supply of long term euro debt shows little sign of abating.

Deutsche Bank has made deep cuts to its equity sales and trading business, as part of an aggressive restructuring plan. The bank has said it intends to retain a “focused equity capital markets business”, but in practice this means a significant retrenchment, with a strict focus on supporting Deutsche’s core clients in Europe and the US.

Deutsche Bank's far-reaching restructuring plan to pull out of equity sales and trading and streamline the investment bank elsewhere involves a tie-up with BNP Paribas for parts of its business. The troubled German lender also signalled the advantage of a recent rule change to additional tier one coupon payments in allowing it to proceed with the changes.

Deutsche Bank’s plan to exit its equities sales and trading businesses globally as part of a far-reaching overhaul of its operations has led to many departures in Asia.

Deutsche Bank’s CIB boss and president Garth Ritchie is leaving the bank by mutual agreement, passing responsibility for the investment bank to overall group chief Christian Sewing. The confirmation ends weeks of speculation about Ritchie’s exit, as the German bank mulls increasingly aggressive cuts to the CIB unit he ran.

Guangzhou R&F Properties Co attracted a huge order book for its sixth dollar deal this year, while Hong Kong-listed Dafa Properties Group turned to anchor support for its inaugural offshore public bond.

The largest second lien tranche since the financial crisis, a Sfr1.3bn-equivalent deal, was placed to just five accounts, GlobalCapital understands, supporting EQT, Luxina and PSP’s $10bn buyout of Nestlé Skin Health. The big second lien tickets illustrate the depth of demand for the product, which has been buoyed by the cash raised for direct lending opportunities — and supports the deal through senior syndication.

Israel sees long dated issuance as an important part of its ‘strategic issuance plan’, according to sources in its Ministry of Finance. Last week, the sovereign returned to the market for a second time in 2019 to extend its euro curve by 20 years, placing its first ever 50 year note through a private placement