Deutsche Bank
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Shares in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products, have traded strongly since its Skr6bn ($671m) Stockholm IPO, ending Thursday 13% above their IPO price. -
Singapore-listed property developer Oxley Holdings has hit the market for a $200m senior secured financing.
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Norddeutsche Landesbank (NordLB) and Deutsche Genossenschafts-Hypothekenbank (DG Hyp) issued tightly priced German Pfandbriefe that benefitted from a rise in yields this week.
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Pub group Enterprise Inns on Monday and mortgage lender Together on Wednesday launched their new sterling offerings amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.
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Investors showed signs of wilting under the torrent of callable bond structures as BNY Mellon, Goldman Sachs and Wells Fargo continued the rush by US banks to print bonds aimed at cutting the cost of complying with Total Loss Absorbing Capacity (TLAC) rules.
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The IPO of Misys, the UK banking software producer, was pulled on Thursday morning despite the books being covered at the base size, in another demonstration of the sour mood that has gripped the new issue market since the Nets IPO and the Conservative Party conference.
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The wrecking of the autumn IPO calendar got worse this week as Misys, the UK banking software company, pulled its IPO, though ConvaTec managed to raise £1.7bn and Ahlsell Skr6bn. Surprisingly, writes Aidan Gregory, further companies are still coming forward with IPO plans.
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Deutsche Bank beat extremely low expectations for third quarter earnings by posting a €278m profit, with return on average shareholder equity up 990bp for the first nine months of the year, compared with the same period of 2015.
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Three high yield borrowers on Monday announced refinancing deals in euros with roadshows starting this week — the first to meet with investors is Sindacato Nazionale Agenzie Ippiche, the Italian gaming company.
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French private care home operator DomusVi on Monday joined a busy high yield pipeline with a new floater and an add-on to its debut bond to fund its second acquisition in Spain.
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A trio of issuers on Wednesday were able to tighten pricing or print above their minimum targets — or both — in another strong day for the dollar market.
