Deutsche Bank
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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.
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Österreichische Kontrollbank and Erste Abwicklungsanstalt priced well received dollar deals on Tuesday. The pipeline in the currency is building with Bank Nederlanse Gementeen and Swedish Export Credit Corporation having lined up three year trades.
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KfW received a final book of over €12bn for a five year euro benchmark on Tuesday, while the City of Hamburg closed out its funding for the year with its longest outstanding bond. Finnvera will add to the euro SSA supply this week, after mandating banks for a short 10 year that is likely to be its final syndication of the year.
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Nothing is scarier than the idea that your risk management is special. Deutsche should look again at its leveraged finance business.
