Deutsche Bank

In an action not seen for years, a would-be Schuldschein issuer has been forced to withdraw its transaction because investors refused to participate, even after the lead bank offered much more attractive pricing terms.

Two SSA borrowers printed euro benchmarks on Thursday, rounding out one of the strongest weeks of issuance in the currency of the year.

The dollar market had largely failed to impress this week, providing only a single dollar benchmark. However, one Washington supra changed that with a remarkable $4bn deal on Thursday.

Deutsche Bank is braced for shake-up of its corporate finance division following the departure of Marcus Schenck as co-head of the corporate and investment bank, which could include the bank’s head of global M&A departing.

European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.

Montenegro followed Egypt to the euro bond market this week, offering investors another chance to take on single-B risk in the currency.

The Democratic Socialist Republic of Sri Lanka grabbed $2.5bn from its largest bond on record on Wednesday, as investors showed their support to a country that has been buffeted by numerous problems recently.

Portugal printed its first new long dated benchmark since September 2014, drawing the week’s largest order book in the public sector bond market for its 15 year deal.

The Province of Alberta printed its first ever euro bond on Wednesday, opting to follow its compatriot Ontario in attacking the sweet spot for investors at seven years.

China SCE Property Holdings and Powerlong Real Estate Holdings paid up to complete their dollar bonds on Tuesday, but the new issue premiums were widely expected by bankers.

A trio of euro borrowers picked up a combined €8.5bn on Tuesday, seemingly without testing the limits of demand in the market.

In an action not seen for years, a would-be Schuldschein issuer has been forced to withdraw its transaction when investors refused to participate, even after the lead bank offered much more attractive pricing terms.