Deutsche Bank

Rating: Baa2/BBB+

Healthy secondary movements and successful new deals from Deutsche Bank and a second tier Italian name suggest investors are hungry for more FIG paper. Bankers are therefore hoping for a strong start to issuance next week.

Reckitt Benkiser has invited as many as 30 banks to participate in a $21bn loan deal, as its all-cash acquisition of US-based Mead Johnson takes shape.

Xinyuan Real Estate is drumming up interest for its first international bond of the year, hiring seven firms to work on a Reg S transaction.

MD Medical Group, the Russian private hospitals group that specialises in paediatric and maternity care, will consider a share sale on the London Stock Exchange to partly finance the opening of 10 new medical facilities across Russia over the next three years.

European bond investors gave Mexico’s prospects a vote of confidence on Tuesday, placing €17.6bn of orders as state-owned oil giant Pemex raised €4.25bn of debt in the largest ever euro-denominated trade from an emerging markets issuer.

Erste Abwicklungsanstalt (EAA) was shy of full subscription with a short dated dollar benchmark on Tuesday, as issuance in the currency calmed after a rampant start to the year. Japan Bank for International Cooperation was also out with a dollar benchmark on Tuesday — a three year deal with fixed and floating rate tranches — but it had yet to price as GlobalCapital went to press.

Spanish travel distributor Hotelbeds is planning an add-on of its original LBO loans to fund the acquisition of Tourico Holidays, a US peer.

Deutsche Bank told investors this week that Germany’s new insolvency regime may have to be updated for the European Commission’s harmonisation proposals. The bank also said it was not planning on raising additional tier one capital this year.

The corporate bond market started the week on the front foot with a triple tranche reverse Yankee from US pharmaceuticals company McKesson that is expected to pave the way for similar issuance.

The Japan Bank for International Cooperation (JBIC) announced on Monday that it will sell a possible dual tranche dollar bond on Tuesday. The deal will share the market with a two year from Erste Abwicklungsanstalt (EAA).

Reckitt Benckiser, the UK based healath and hygiene firm, is progressing with its approach to US-based Mead Johnson Nutrition, with loan deals taking shape and the boards of both firms having waved through the $17.9bn transaction.