Deutsche Bank

A fresh IPO launch broke the quiet in the pre-Easter European equity capital market this week: and a very unusual one — the first Romanian flotation of the year. Digi Communications, a leading telecoms and media group, wants to float 25% of its equity in Bucharest.

Wobbles in eurozone government bond secondaries this week failed to deter a strong showing from a pair of public sector issuers in primary on Tuesday. Unédic found strong demand and tightened from guidance on its longest dated benchmark ever, while Austria broke a series of records with a 10 year euro benchmark.

The pace of borrowing has slackened for public sector borrowers as Easter approaches but a few are still out hunting for second quarter funding.

Korea Expressway Corp joined the flurry of bond launches in Asia on Tuesday, marketing a three year floating rate dollar note.

Thailand’s B. Grimm Power is likely to launch its $350m-$400m IPO in May due to logistical delays, according to bankers on the trade.

Asset managers are looking to buy a piece of a $405m loan that is being restructured for Royal Industries, according to bankers on the deal. The Indonesian palm oil seller proposed the restructuring after failing to pay its first and second instalments.

Asia’s primary DCM market is busy on Tuesday ahead of the long Easter weekend, with Lianyungang Port Group, China Oil and Gas Group, Yida China Holdings and Golden Wheel Tiandi Holdings Company opening books for their respective dollar bonds.

Shares in Gestamp Automoción and Banca Farmafactoring, which had performed poorly on their first day of trading after their IPOs on Friday April 7, steadied this week, providing relief to equity capital markets bankers anxious to avoid poorly performing deals putting off investors.

Unédic and Austria have announced that they will sell euro benchmarks at the long end of the curve on Tuesday.

Bank of China, CCB Life Insurance and Citic Securities kicked off investor meetings and calls this week, in pursuit of Reg S deals.

Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.

Deutsche Bank has successfully completed its fourth capital raising since the financial crisis, as investors backed CEO John Cryan's turnround plan with a 98.9% take-up rate.