Deutsche Bank

Dexia Crédit Local this week brought the first £1bn-plus sterling deal from an SSA issuer since a shock UK general election result in early June, with what one SSA syndicate head away from the trade called a “phenomenal” result. The deal came as speculation mounted that the Bank of England could next month raise its base rate for the first time in more than a decade.

Predictions that financial institutions would ebb as the mainstay of equity capital markets business after the major post-crisis wave of recapitalisations had been completed have proved premature.

The Inter-American Development Bank (IADB) raised A$100m ($76.1m) on Tuesday by tapping its June 2026 Australian dollar bonds. It was joined later in the week by Nederlandse Waterschapsbank (NWB), the International Finance Corporation (IFC) and the European Investment Bank, which launched a tap that is expected to be priced on Friday.

Agence Française de Développement’s change to its banking licence will lead to it sell more private placements, according to Bokar Cherif, the head of the agency’s treasury.

Posco has launched a block sale of KB Financial Group's shares, and is looking to raise up to W443.5bn ($383.0m), according to a term sheet for the deal.

Argentina’s largest province will begin investor meetings on Friday ahead of a planned euro-denominated bond sale, according to DCM bankers close to the deal.

Pasubio, the Italian maker of speciality car upholstery, is funding its buyout by CVC with a leveraged loan and revolver launched on Wednesday in an issuer-friendly market.

Agence Française de Développement’s plans to change its banking license will lead to it selling more private placements, according to Bokar Cherif, the agency's head of treasury.

Gazprom will return to Switzerland next week for roadshows in Geneva and Zurich. And, as retail taste for sub-investment grade credit grows, the bookrunners are confident the Russian gas firm will attract demand.

Banco Santander has launched its €7.07bn fully underwritten rights issue to support its acquisition of the failed Banco Popular Español, saying it expects to make a return on investment on the deal of 13% to 14% by 2020.

The Inter-American Development Bank raised A$100m ($76.1m) on Tuesday by tapping its June 2026 Australian dollar bonds, despite the remaining maturity falling short of where most long end Kangaroo demand resides. Meanwhile, Nederlandse Waterschapsbank responded to reverse enquiry, tapping its 3.5% July 2027 bonds for A$15m.

Dexia Crédit Local has brought the first £1bn-plus sterling deal from an SSA issuer since a shock UK general election result in early June, with what one SSA syndicate head away from the trade called a “phenomenal” result.