Deutsche Bank
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Korea National Oil Corp will host a global roadshow next week ahead of a new international bond, to be sold in dollars and/or euros. -
A healthy pick-up to Central American peers, and investor optimism that political bickering would not put the country at risk of default, allowed El Salvador to raise $601m of vital 12 year funding on Tuesday, despite the sovereign rapidly nearing triple-C status.
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A big step in restoring Italy's banking sector to health was taken successfully this week, when the fifth biggest EMEA equity sale ever raised €13bn for UniCredit.
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Landesbank Baden-Württemberg and WL Bank successively priced the tightest covered bonds of the year this week and both were able to tighten pricing to a greater extent than any previous German issuer.
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United Overseas Bank this week became the first issuer to price covered bonds simultaneously in euros and dollars, helping it to attract new, especially Asian, investors.
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Banks hit the market with a host of very tightly priced preferred senior deals this week, and a growing pipeline suggested the trend in issuance was only set to continue.
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Rocket Internet, the German internet venture capital group, closed 14% lower on Thursday after Kinnevik, the Swedish investment company that was one of its earliest backers, sold half its stake through an accelerated bookbuild after the stock had rallied over the past three months.
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Finnish technology company Nokia is set to become the first European company to issue a euro high yield bond for four weeks. Meanwhile, UK food producer Bakkavor will repay all its notes.
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Bpifrance Financement became this week’s third French public sector issuer on Thursday, scoring €500m with a tap.
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Jeanswear maker Levi Strauss priced on Thursday a new refinancing deal in euros, having been absent from the European high yield bond market for seven years.
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Deutsche Bank was looking for its first senior bond in the sterling market on Thursday, having recently tapped two euro deals as it looks to lock in low funding costs.
