Deutsche Bank
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Future Land Development Holdings’ new three year notes garnered massive investor interest for a $350m capped deal, as Chinese property names benefit from market support. -
Deutsche Bank has closed its US swaps clearing business with immediate effect, as the bank responds to regulatory requirements that would have forced it to post more capital than it was willing to support the business with.
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The prospect of a far-right leader becoming president of France rocked government bond markets this week. It led to a rare pulled French agency deal and will cause the country’s banks problems with their own huge funding needs. But as other issuers in eurozone countries facing elections showed, the picture of the risks ahead is complicated. Craig McGlashan reports.
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Equity-linked bond issuance, lagging behind demand in Europe, showed a burst of vigour on Thursday with the launch of three deals, including substantial convertibles for Vinci and Severstal that were both eagerly received.
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A triumvirate of covered bond issuers from Denmark and Norway enjoyed stellar demand for their euro covered bond benchmarks this week.
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Shares in RPC Group, the UK plastic packaging maker, closed 5.8% lower on Thursday after it announced a fully underwritten £552m rights issue to finance its takeover of Letica, a US rival.
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It took a trim of the offering size and issuer’s leverage ratio to sway high yield investors, but French glass packaging manufacturer Verallia finally priced its new bond on Thursday.
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Elis, the French bed linen and laundry company, has completed its oversubscribed €324m rights issue to finance the reduction of its leverage after buying competitors Indusal in Spain and Levebras in Brazil.
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Istituto Centrale delle Banche Popolari Italiane (ICBPI) on Thursday sold a payment-in-kind bond to fund its latest acquisitions in the consumer card sector.
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Latvia is on course to become the first Baltic state to tap the 30 year maturity after emerging with pricing on a dual tranche euro deal.
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Future Land Development Holdings is hunting for $350m from a new three year note launched on Thursday morning, with pricing tightened aggressively at the end of the day.
