Deutsche Bank
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Shares in Tesla, the US maker of electric vehicles, gained as much as 2.8% on Thursday morning after the company announced it would raise up to up to $2.3bn of capital by selling new shares and convertible bonds to strengthen its balance sheet following a net loss of $702m in the first quarter of the year. -
BASF’s oil and gas unit Wintershall and rival DEA have completed their merger, creating the largest independent oil and gas company in Europe, paving the way for a blockbuster IPO on the Frankfurt Stock Exchange in 2020.
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For all its woes, Deutsche Bank’s corporate finance business has much to play for in EMEA, writes David Rothnie.
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The loan backing the €5.8bn takeover of Versum Materials by German pharmaceutical firm Merck launched into syndication on Wednesday. Three banks are leading the financing. Versum is the former electronic materials division of Air Products & Chemicals, which was spun off in 2016.
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Denmark’s Bunker Holding has signed a multi tranche revolving credit facility totaling $1bn, as the shipping fuel and lubrication oils company prepares for a “paradigm shift” headed for its industry.
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US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m).
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Deutsche Bank and Commerzbank will have to sort themselves out without the help of each other, after merger talks collapsed this week. Speculation mounted as to whether Deutsche would now be forced to slash its investment banking operations, and about whether Commerzbank would be embraced by another European peer.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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After pushing out its yield curve to 30 years this week, Cyprus is keeping an eye open for issuing even longer maturities, according to an official at the country's Public Debt Management Office (PDMO).
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Dexia printed a £1bn trade on Thursday, showing that borrowers interested in sterling can still see success in the UK market if they can be nimble enough around headline risk.
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Chinese plastic surgery social network So-Young International hit the road for its Nasdaq listing this week, eyeing proceeds of up to $179.4m.
