Deutsche Bank
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Here Technologies, the Dutch provider of mapping and location services, has signed a €500m credit facility. Some European loans bankers insist they are swamped with deals, even though they have just finished the quietest January for years. -
Italy will test peripheral sovereign appetite in the long end after hitting screens on Tuesday for a 30 year syndication.
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The UK Debt Management Office showed no effects from the ‘noisy UK environment’ to comfortably conclude its 2018/19 syndicated programme on Tuesday. KfW will add to the sterling SSA supply this week after picking banks for its third benchmark in the currency this year.
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Deutsche Bank offered large new issue premiums in an effort to lure investors towards four tranches of non-preferred senior debt in euros and sterling on Tuesday. The decision to include a two year offering caught some market participants by surprise.
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Latam Airlines returned to the bond market for the first time in almost two years, printing $600m of seven year paper.
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Deutsche Bank’s weak set of results on Friday were driven by losses in its corporate and investment bank, notably in fixed income and currencies trading, but bank chiefs suggested the CIB performance was set to improve. The bank, subject to rumours about a merger with Commerzbank, also made sure to state that it had more than enough capacity to pay additional tier one coupons.
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Barclays has made two hires in its FX trading and distribution team. This included appointing another FX specialist who used to work for Deutsche Bank.
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Conditions for public sector dollar issuers held firm this week after an excellent start to the year, although deals were thinner on the ground thanks to a US Federal Open Market Committee meeting. Chinese New Year holidays next week will give the sector a much needed breather — after which three-years might move more into vogue than fives, said SSA bankers.
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