Deutsche Bank

Germany’s Jost Group, which makes safety systems for trucks and trailers, wants to list in Frankfurt to raise €130m of new capital and a yet-to-be-determined amount for the selling shareholders.

Daimler was the only company to issue a new bond in the European market on Monday, but it brought a huge, €4bn deal. And it maintained the recent trend for pushing out to longer maturities.

The euro market for public sector borrowers looks set to kick back into action after a quiet last week, with a pair of big borrowers mandating for trades to come on Tuesday.

Shares in Allied Irish Banks rose 5% when they began trading on Friday after an excellent response to its €3bn IPO, in which the leads gave nearly a third or investors zero allocations.

Most new bond issues in Europe this week have been multi-tranche offerings, with issuers benefitting from investor appetite to buy longer tenors for greater returns. Safran, however, bucked that trend with a pair of short dated floating rate notes.

US vehicle parts manufacturer Federal-Mogul cruised through its second fixed rate deal in the euro high yield market this week.

Kaisa Group Holdings has priced the new money portion of an exchange offer, swapping old variable rate bonds with four new sets of fixed rate notes. While bankers on the deal said that the company achieved its goals with the liability management exercise, some away from the trade said the issuance size was smaller than expected.

International schools operator Nord Anglia has tightened pricing and accelerated the deadline on its $1.22bn-equivalent euro term loan, while up to six leveraged loans are due to close syndication at the end of the week.

Qinghai Provincial Investment Group Co, Guangdong Hengjian Investment Holding Co and China Logistics Property Holdings Co are expected to meet Reg S investors early next week.

Samvardhana Motherson Automotive Systems Group is seeking €300m from a seven year bullet.

Europe’s IPO market took a couple of knocks this week when one flotation was pulled and another traded sharply down on its debut, partly because investor sentiment has cooled. But there was still enough vigour in the market to ensure a successful conclusion to the €3bn re-privatisation of Allied Irish Banks (AIB), write John Loh and Jon Hay.

Deutsche Bank has poached one of Goldman Sachs’ top M&A bankers in Europe amid a revamp of its corporate and investment bank by its new management team.