Deutsche Bank
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Delaware-based chemicals group Chemours added to the surge of reverse Yankee issuers with a new euro deal this week, as sources report growing interest from non-European bond investors in the currency. -
Deutsche Bank has picked a new head of emerging market debt trading to replace Sean Bates, who is leaving the bank, according to an internal memo seen by GlobalCapital.
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Telecoms company TDC fired the opening shot of a multi-billion funding package for its leveraged buyout this week, with some investors showing mixed feelings about such deals.
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Chinese tutoring service provider Puxin Education & Technology Group has filed draft documents for an IPO of American Depository Shares (ADS), targeting $300m, according to a banker on the deal.
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The UK Debt Management Office again broke a couple of syndication records as it extended the Gilt curve on Tuesday, but onlooking bankers felt the real story was how the underlying Gilt curve behaved through the deal.
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The euro market got off to a fine start this week as a supranational rarely seen in euros appeared at five years and a mainstay of the market pulled off another successful trade. But later in the week, cracks began to show.
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US pharmaceuticals company Mylan made its third visit to the euro corporate bond market in three years on Wednesday when it sold a €500m seven year deal with a €1.3bn order book.
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German screws and fastenings wholesaler Würth this week found its domestic investor base had stayed loyal after a three year hiatus from the corporate bond market. However, it also found material offshore interest too.
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Arion Banki, the domestic arm of failed Icelandic bank Kaupthing, plans to become the first bank in Iceland to return to the stockmarket nearly a decade on from the financial crisis, having announced its intention to float on Nasdaq Iceland and Nasdaq Stockholm.
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South Africa raised $2bn in a difficult market on Tuesday, after US Treasuries widened unexpectedly at just the moment that the sovereign began marketing its new deal. The resulting sell-off in both South Africa’s curve and the rand meant that the issuer was not able to tighten pricing as much as had been anticipated, and the deal was smaller.
