Deutsche Bank

Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)

Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.

World Bank raised A$850m ($678.7m) in the Kangaroo market this week by printing a new September 2022 line, the largest Australian dollar SSA bond in the last three years.

Jefferies has opened an investment banking office in Amsterdam and has poached a team of bankers from Deutsche Bank to run it.

Ahold Delhaize, the Dutch supermarket company, was the only IG corporate issuer to price a deal on Tuesday. But unlike the five triple-B rated issuers on Monday, the food retailer paid a single digit new issue premium.

The European leveraged loan deal pipeline for September keeps growing, now topping €7bn from more than 10 borrowers. The latest facility is for UK software firm Civica, which Partners Group has acquired from OMERS Private Equity.

UK telecoms group Virgin Media was in the market for a £200m add-on of its 2024 receivable financing notes on Monday. By Wednesday, it had sold £450m of the deal, proving that demand is not restricted to the high yield debt market for euros, where three more deals were under way.

Slovenia is once again borrowing in euros to fund a buy-back of its dollar debt as it looks to cut its liabilities in the currency. This is the borrower’s sixth such transaction over the course of two years.

The shifting landscape in industrials is changing the way banks are hiring for the sector, and the power base is moving to Europe from the US, writes David Rothnie.

Wynn Macau raised $1.35bn from the bond market on Wednesday, finding support from both Asian and US investors thanks to a turnaround story in the Macau gaming industry and the issuer’s improved financials.

ASR Nederland, the Dutch insurer, has returned to full private ownership after NLFI, the organisation that manages the investments of the Kingdom of the Netherlands, sold its final 20.5% stake via an accelerated bookbuild on Wednesday evening that attracted over 150 investors.

The European Investment Bank raised €3bn with a December 2023 EARN on Wednesday, coming hot on the heels of Austria's €7.5bn dual tranche, but the flow of euro deals appears to be abating with no borrowers hitting screens for Thursday.