Deutsche Bank

Putting a career transaction banker in charge of Deutsche Bank’s business in Asia made some sort of statement. But of what, exactly? That Deutsche’s old markets powerhouse is no longer in the driving seat? Or that it can be a model for the revival of Deutsche globally?

Public sector borrowers are lining up a three pronged attack on Wednesday in a dollar market that is enjoying its widest swap spreads of the year. Quebec is attempting the first 10 year dollar benchmark since the first week of the year, KfW is out in fives — a part of the curve that has also become attractive in euros — and the Inter-American Development Bank is coming at the short end.

Deutsche Bank's treasurer, Alexander von zur Mühlen, is returning to the group's investment bank, which he left in 2009. Dixit Joshi, who was most recently head of the debt institutional client group and head of listed derivatives and market clearing, will replace him.

Acetow, the cigarette filter maker Blackstone is carving out of parent Solvay, has launched €630m-equivalent of loan facilities for the buyout, four months after it was announced.

Inovyn, the chlorvinyls firm owned by chemicals group Ineos, and French food producer Labeyrie both joined the bond-to-loan refinancing trend in the leveraged finance market this week, holding a lender call and bank meeting respectively for term loan deals of at least €500m each.

KazMunayGas is preparing to bring the first deal from the Caucus region this year and will be hoping the red hot market stays warm enough to drive its funding costs down.

Saudi real estate company Dar Al-Arkan and Dubai property developer Damac look set to add much needed supply to the sukuk market and are lining up trades in the belly of the curve.

Beijing Enterprises Holdings Limited is eyeing a new euro issuance, two years after its debut in the currency.

Indonesia’s Modernland Realty is preparing for a new US dollar bond this week, following compatriot property issuer Pakuwon Jati’s tightly priced February deal.

Aston Martin, the UK luxury car maker, made savings of up to 400bp on Friday as it wrapped up its latest bond refinancing bond. Investors came along for the ride but found it a bit of a squeeze.

Rating: Aaa/AA/AAA

Nets, the largest Scandinavian payments processor, priced its first euro bond on Thursday amid keen demand for top rated high yield paper that is leading to low coupons.