Deutsche Bank

The rally set off European Central Bank president Mario Draghi's assertion on Tuesday that further quantitative easing was possible, if not probable, had reached a level by Wednesday that astonished bankers. Three investment grade companies took advantage that day with benchmark bond issues, while one brought a tap.

The Republic of Serbia’s first international bond in six years — a euro 10 year deal — has drawn a healthy book of over €4.5bn.

Investors hoovered up two German hybrid capital issues on Tuesday, in a receptive market spurred on by dovish comments from European Central Bank president Mario Draghi. They were of very different stripes: a €1.5bn dual tranche issue from Merck, the pharmaceutical company, which was about 7.5 times covered, and a £400m issue from Aroundtown, the property company.

Deutsche Bank’s plan to create a new non-core unit, housing €50bn of assets largely from its markets and banking businesses, is just more of the same old Deutsche restructuring plan, warmed over for a new management team. If a non-core unit, cuts to costs, simplification of business lines, a dash of IT spending and a focus on the best businesses didn’t work when Deutsche stock was at €30, why would it work at €6?

One of Deutsche Bank’s most senior equity capital markets bankers has resigned after nearly 15 years at the bank to join a rival. The move comes amid reports that Deutsche Bank is preparing to make deep cuts to its equities trading business outside of continental Europe.

The Republic of Angola has signed a €1bn credit line from Deutsche Bank to fund private investment projects in the country. The deal is part of a wider trend of increasing funding support for the country’s growing private sector.

Deutsche Bank’s reported plan to separate off non-core assets like long-dated derivatives and to size down parts of its trading operations were seen as positive for the bank's shares and bonds on Monday morning.

Volkswagen surprised the equity capital markets on Friday by setting a range on the IPO of its trucks division, Traton, a few days earlier than most in the market had expected. But the deal has already gained strong investor interest.

Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.

ESR Cayman, which builds and leases warehouses, has pulled its float on the Hong Kong Stock Exchange, delaying the deal indefinitely.

China’s Zhenro Properties Group wrapped up its first attempt at issuing perpetual bonds offshore this week, selling the note with a senior-to-perp differential that was tighter than some of its higher rated peers.

Lippo Malls Indonesia Retail Trust made its debut in the dollar market on Wednesday, diversifying its investor base and achieving quite a large deal size at an attractive price.