Deutsche Bank
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Some banks will emerge from summer with a pressing need to secure new staff, but coverage gaps are taking longer to fill, writes David Rothnie. -
European banks are expected to call the first generation of Basel III compliant additional tier one (AT1) instruments, as a prolonged rally in the asset class has made refinancing conditions very attractive for issuers.
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US plastics manufacturer Trinseo priced its new dollar refinancing bond deal with coupons more than 100bp tighter than the old notes. It is also marketing new term loans.
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The spat between Qatar and its GCC neighbours has reared its ugly head in the capital markets, with the possibility of Abu Dhabi informally boycotting Qatari-owned banks on the table. But neither side is likely to really feel the pinch.
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Indian Railway Finance Corp (IRFC) is ready to sell its debut offshore rupee bond as soon as it is given the regulatory go-ahead, a source at the issuer has told GlobalCapital Asia.
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Trinseo, a US manufacturer of plastics, latex binders and synthetic rubber, opened investor calls on Monday for a new unsecured bond, as it plans to repay all of its bonds due in 2022.
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Chinese biopharmaceutical company Zai Lab has appointed a pair of firms to lead its US listing, as a host of other Mainland companies also prepare to float across the Pacific.
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The European high yield bond market will enter the second half of the year in extraordinary shape, with average coupons at all-time lows and a surge of issuance. Can it get any better? Bankers and investors think not.
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British American Tobacco set fire to any notion that markets close in August this week with a $20.8bn bond bonanza. It brought a $17.25bn eight tranche deal on Tuesday — the second largest bond transaction of the year in the US — and followed that with a €3.6bn-equivalent four tranche dual currency deal in Europe on Wednesday. Nigel Owen reports.
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A former FIG syndicate director at Crédit Agricole is understood to have joined Deutsche Bank, following a string of FIG syndicate moves in previous months.
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After bringing the second largest bond transaction of the year in the US on Tuesday, British American Tobacco topped up its borrowing with a €3.6bn-equivalent four tranche dual currency deal on Wednesday.
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NRW.Bank racked up another tightly priced deal for the dollar SSA market on Tuesday, as FMS Wertmanagement prepared a trade that bankers expect to attract a similar central bank audience. Issuers are enjoying strong summer dollar conditions, with swap spreads stable and US Treasury spreads attractive for the buy-side.
