Deutsche Bank
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Yanzhou Coal Mining Co pursued a $275m deal on Thursday, altering its initial fundraising goals to score a tightly priced transaction. -
Bankers in the corporate bond market still have a number of deals on their pads to try to execute ahead of the end of 2018. None was successful this week, but that hasn’t dented their ambition.
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As the year draws to a close, Deutsche Bank’s corporate finance division has completed its layoffs, and its new management team is looking to grow revenues, but the business remains a work in progress, writes David Rothnie.
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BMW Automotive Finance will open books for its second auto loan ABS of the year on November 27, another three-trancher worth Rmb4.5bn ($648m).
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Deutsche Bank said on Monday it was looking to buy back €1bn of its non-preferred senior bonds from investors, in an effort to redeploy some of the ‘excess liquidity’ the bank has been running over its minimum requirement for own funds and eligible liabilities (MREL).
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A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.
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The IPO plans of companies operating in the cryptocurrency sector are in limbo after Canaan, the world’s second largest maker of cryptocurrency mining equipment, let its IPO application on the Hong Kong Stock Exchange lapse on Thursday.
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Socially responsible investment deals were the focus of attention in the primary SSA market this week, as the World Bank and the Flemish Community of Belgium sold well-received green and sustainability bonds, respectively. Bank Nederlandse Gemeenten and Eurofima have added to the public sector SRI pipeline, which is showing no signs of slowing down as the year end approaches.
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The dollar bond market was brought to a standstill on Thursday, capping a tough week that saw around 15 borrowers abandon funding plans due to volatility.
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After Volkswagen (VW) printed the biggest corporate bond trade in its history the previous week, Volkswagen International Finance sold a six tranche dual-currency deal on Monday. While pricing on the dollar clips was commended by market participants, there were fewer compliments about the euro tranches, writes Nigel Owen.
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Cement maker Semen Indonesia has mandated five banks for a $1.282bn bridge loan to support its acquisition of the local unit of Swiss firm LafargeHolcim.
