Deutsche Bank
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The European Financial Stability Facility has opted to tackle a part of the euro curve where KfW found substantial demand last week, with a trade that SSA bankers said should provide a steer on the health of the euro market. There was one positive sign for the sector on Monday, as a Dutch agency increased the size of an SRI bond from its initial target. -
After a week without any high yield issuance, Verisure launched €1.1bn of dividend recapitalisation and refinancing bond deals this week. The market was already growing busier under tighter secondary spreads and a new refinancing deal from Intertrust.
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Coca-Cola European Partners opened the European corporate bond market on Monday with its third visit to the market since the company was created in 2016. The €400m nine year bond was three times subscribed.
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German and UK banks showed some of the lowest common equity tier one (CET1) ratios out of the 48 banks participating in the European Banking Authority’s stress test, in the adverse scenario tested. More than half the banks would also face distribution restrictions over the three years.
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Too little capital, too much sketchy stuff on the balance sheet, too poor a set of earnings figures; maybe Germany should look closer to home before criticising other countries’ banking systems.
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Primepulse, the German investment fund focused on the technology sector, has postponed its IPO on the Frankfurt Stock Exchange as a result of poor market conditions.
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Two Chinese companies, Guodong Network Communications and Bestway Global Holding, have ventured out for their maiden loans, seeking €150m ($170m) and $150m respectively.
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Indonesia’s Pertamina made a quick comeback to the debt market on Wednesday, selling a 30 year bond just days after terminating a tender offer.
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Swedish Export Credit Corporation was set to price a $1bn no-grow three year global benchmark as GlobalCapital went to press on Wednesday, as the last bits of dollar supply came before an expected shutdown next week for the US mid-term elections.
