Deutsche Bank

The IPO of Dutch bank NIBC was due to be priced on Thursday evening at the bottom of its initial range, valuing the company at €1.28bn.

Two new SRI corporate bonds were priced on Monday, but with very different results. Iberdrola’s green hybrid bond failed to tighten from initial price thoughts, while Danone’s debut social bond had to pay just 2bp of premium.

The auto finance arm of General Motors opted for shorter maturities to try to ensure the success of its first bond sale of 2018 on Monday. But the €1bn dual-tranche deal only received orders of €1.7bn and the lead managers were only able to tighten one of the tranches from initial price thoughts.

China’s OneSmart International Education Group opened books for its $211.9m IPO of American Depository Shares (ADS) on Monday.

Two central and eastern European corporates announced euro trades on Friday, adding to a busy pipeline of emerging markets deals.

Côte d’Ivoire took combined books of €4.8bn for its milestone dual tranche 11 and 30 year euro bond on Thursday, with investors voicing relief that the issuer had not squeezed pricing too much from the initial talk.

Bank of the Philippine Islands has firmed up the launch date and number of shares for its Ps50bn ($961.5m) rights issue.

Guarantors: Kingdom of Belgium (51%), Republic of France (46%) and Grand Duchy of Luxembourg (3%)

Corporate bond issuers who sold their deals earlier the week found execution much easier than those who came later in the week. Strong order books and single digit new issue premiums gave way to premiums of as much as 20bp and one deal having to be downsized.

Dutch supermarket operator Ahold Delhaize is becoming a frequent issuer, as it sold a dual tranche deal this week, six months after its return to the market from a five year absence.

Books closed on the IPO of Siemens Healthineers, the healthcare technology division of Siemens, on Thursday lunchtime, with the base deal valued at €3.65bn and the company at €28bn.

Vonovia, the German housing company, issued €2.1bn of bonds on Thursday to finance its €5.2bn acquisition of Austrian peer Buwog, which was announced in December.