Deutsche Bank

Deutsche Bank has hired a senior executive from a rival to lead its technology, media, and telecom investment banking efforts in Asia Pacific.

The People’s Republic of China opened books on Thursday for its highly anticipated $2bn bond, its first issuance in the offshore dollar market in more than a decade.

JP Morgan made an aggressive manoeuvre in the equity-linked bond market on Tuesday night by placing a $250m tap of BASF’s innovative bond with warrants, having outbid other banks, including Deutsche Bank, which had structured and led the original deal.

Another pair of public sector borrowers tapped the dollar market, hitting two and three years respectively, in contrast to Tuesday’s salvo of long end trades. One of the issuers printed well beyond its initial size expectations.

The European high yield bond pipeline this week brought €1bn of single-B rated offerings in euros and sterling from new issuers, giving hope to those working for a bigger borrower base for the market.

Ineos, the Anglo-Swiss chemicals manufacturer, cut costs on its term loans for the second time this year on Tuesday, after S&P joined Moody's in upgrading the rating of the new facility on Monday.

With the benchmark corporate bond market pausing ahead of Thursday’s European Central Bank meeting, Deutsche Bank has sold its second sole-led sub-benchmark deal of the week — a €150m 10 year new issue for the property subsidiary of Casino, the French retailer.

Poland’s Bank Gospodarstwa Krajowego (BGK) printed a €750m long 10 year bond on Tuesday from a book of more than €1.1bn and with only a 3bp new issue premium.

The government of India is selling down its stake in NLC India through a block that could raise around Rp7.2bn ($110.6m).

Hutchison China MediTech hit the market on Wednesday with a view to raising around $262m from a follow-on sale of American depository shares (ADS), according to a term sheet seen by GlobalCapital Asia.

The Government of Mongolia, rated Caa1/B-/B-, has released initial price guidance for a new 2023 bond, part of a liability management exercise aimed at extending the borrower's maturity curve.

Euro corporate bond issuance was much cooler on Tuesday after Monday’s fireworks. “Maybe everybody parties on day one and is a bit hung over on day two,” mused one syndicate banker.