Deutsche Bank

The strong momentum of the IPO market has been hindered this week as markets subject are buffeted by heightened geopolitical volatility in the wake of the Cambridge Analytica scandal and of new US trade tariffs.

Deutsche Bank has appointed Lok Yim as chief country officer for Hong Kong, succeeding Peter Lo who is retiring from the German bank after 15 years.

Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.

French supermarket group Carrefour returned to the equity-linked market on Thursday to sell a $500m equity-neutral convertible bond due in January 2024.

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.

Anheuser-Busch InBev timed a $10bn multi-trancher to perfection this week as it jumped into the market to extend maturities ahead of the Federal Reserve’s rate interest rate hike.

Spanish utility Iberdrola had significant success with its debut green hybrid bond in November when it received €3.2bn of orders. However, its second such bond failed to tighten from initial price thoughts when it was issued this week.

Three issuers broke the brief new issue hiatus in the CEEMEA market on Thursday, all starting with wide levels to tempt investors into their books.

Globalworth, an AIM-listed real estate investment trust focused on Poland and Romania, released initial price guidance for a euro benchmark seven year bond at 3.375% area, talk that a syndicate official away from the note represented around a 40bp pick up over fair value. The talk was later in the morning updated to 3.125%-3.25% with leads saying the deal will price in range.

The order book for OneSmart International Education Group’s $212m IPO on the New York Stock Exchange is well covered across the price range, said a banker at one of the leads.

B&S, the Dutch consumer goods distribution specialist, has revised the price range for its €358m IPO on Euronext Amsterdam, which is due to be priced on Thursday.

Two senior bankers have joined Deutsche Bank’s CEEMEA team, while Maryam Khosrowshahi is adding to her role with the new title of chairperson of supranational, sovereign and agencies origination.