Deutsche Bank

Medical diagnostics firm Unilabs launched a benchmark size extension of its loan debt on Monday, as a range of investors clamour for paper despite issuance volumes running ahead of last year’s record pace.

Unrealistic pricing expectations are keeping two EM corporate issuers by the wayside after volatile markets forced Atrium to cancel a tender offer combined with a new issue last week.

Deutsche Bank is losing its head of Asia equity-linked business, with Keyvan Zolfaghari set to leave the firm for Goldman Sachs.

In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.

KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility.

The tone in Europe’s corporate bond new issue market continued to strengthen on Thursday, as two issuers came to market and achieved strong sales, despite a wider market that worsened during the day.

Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.

SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.

Puxin and VCredit Holdings, both of which launched IPOs earlier this week, were covered on their first day of bookbuilding.

Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.

The Republic of Croatia pulled pricing for its €750m 2.7% 2028 bond 30bp tighter than initial price guidance on Wednesday, bringing the reoffer spread nearly flat to the outstanding curve.

KfW reopened the public sector dollar market on Wednesday by picking up a hefty $4bn from a well oversubscribed book. Société de Financement Local will be next up, after mandating banks for a trade.