Deutsche Bank

The sterling market had a healthy opening week in the public sector with three deals raising a combined £1.9bn, and there is plenty more in the pipeline, according to syndicate bankers.

Equity syndicates expect a robust IPO pipeline to power strong issuance in the first half of this year, which could set 2018 up to surpass what was a good 2017.

Israel has returned to dollars for its first trade of 2018, picking leads for a dual tranche 10 and/or 30 year bond.

China’s Yingde Gases Group Co has mandated banks for its first dollar bond sale in more than three years.

2017 saw some serious capital raising by European banks. Four European globally systemic banks, in four monster rights issues, raised more than €30bn — partly to deal with non-performing loans and partly to reclaim their places in global investment banking and capital markets. Even banks that did not turn to the equity markets sought to conserve capital — but is 2018 the year when belts will start to be loosened again? Owen Sanderson reports.

Refresco’s $1.25bn acquisition of Cott’s drinks bottling business raises monopoly concerns, the UK Competition and Markets Authority (CMA) said this week. But market sources see a quick fix ahead.

A pair of public sector borrowers blew away the cobwebs in the sterling market on Wednesday, printing a combined £1.5bn.

Investment grade corporate bond market players only had to wait one day for the first new deals of 2018. Renault and BMW both brought new paper to market on Wednesday, selling a total of €2.75bn of bonds with little premium.

An optimistic mood is spurring on Europe’s equity capital markets, with a busy quarter expected, particularly for IPOs.

Deutsche Bank’s head of origination for corporate and financials in CEEMEA has moved to one of the bank’s clients as chief financial officer.

The European Investment Bank has hit screens to announce its first benchmark of 2018 — a £1bn sterling tap.

Holders of the rights auctioned in the rump sale after Banca Carige's rights issue have subscribed for only €22.8m of the €167m of shares available to them. The largest shareholder has 12 hours to exercise an option to buy €69.5m of the remainder.