Deutsche Bank
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Indonesian developer Modernland Realty closed a modest $240m deal on Thursday, against a weaker market backdrop in Asia. -
CT Corp company Trans Retail Indonesia has allocated its $575m borrowing among a group of 36 lenders.
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Yanzhou Coal Mining Company saw a very different outcome to its perpetual bond this week, managing to price through its theoretical fair value. In comparison, the borrower paid up three years ago for its last perp outing.
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Regulators and market participants are increasingly concerned about the spikes in repo rates at the end of quarters and years. Last year finished with a particular squeeze in the European market — perhaps exacerbated by the huge fines faced by Deutsche and Credit Suisse last year.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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Deutsche Bank shares closed on Thursday April 6 at €15.68, well above the €11.65 subscription price in its €8bn rights issue, for which subscription closed that day.
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Yorkshire Building Society defied concerns around the UK’s decision to leave the European Union this week, issuing a well oversubscribed covered bond that was very broadly distributed and that priced almost flat to its curve.
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FMS Wertmanagement took advantage of the dearth of supply in short dated euro paper to score an extremely tight price for its €1.5bn November 2020 benchmark on Thursday.
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L-Bank shattered its sterling size record on Wednesday, exceeding the expectations of even its leads with a £500m five year deal.
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Germany’s WL Bank priced a €250m tap of its 10 year mortgage backed Pfandbrief on Thursday, taking advantage of the squeezed market to price flat to its curve. Cheaper French covered bonds have performed well lately and profit taking was seen in the UK sector.
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Saudi high yield issuer Dar Al-Arkan nipped in ahead of its sovereign to raise a $500m sukuk, strong scarcity value drove demand and enabled the issuer to increase the size of the trade from the planned $300m.
