Deutsche Bank
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Despite a tough IPO market in which deals are falling by the wayside, ConvaTec, the UK medical supplies manufacturer, opened the books for its London IPO on Thursday morning with a price range that values it at £4.4bn to £5bn.
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Including redemptions and central bank buying the investable eurozone covered bond market has shrunk almost €80bn so far this year. No surprise then that seven year deals issued on Thursday by Banco Sabadell and Bank of Montreal were swamped and priced with virtually no concession. -
Deutsche Bank enjoys a dominant position in its home market, but rivals are snapping at its heels, and the German competitive landscape is in a state of flux, writes David Rothnie.
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Eastern European telecoms operator RCS&RDS on Thursday printed a refinancing euro bond that was first planned in euros and Romanian leu, while it mulls a potential IPO.
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Ojer Telekomunikasyon (Otas), the majority owner of Turk Telekom, failed to make a $290m payment on a $4.75bn loan which was signed in September 2013, according to a news report on Wednesday. But two bankers were quick to say that Otas's fate was not indicative of all Turkish borrowers.
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Ecom Agroindustrial, the Switzerland based commodities trader, has concluded the refinancing of a $635m one year loan, drawing in six new banks.
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Deutsche Bank has hired a senior banker from UBS for the newly created role of Asia Pacific head of financial sponsors coverage.
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Deutsche Bank and falling foul of the rules is nothing new. It built its investment banking operation acquiring businesses battling reputational and legal risk.
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A diverse group of issuers forged ahead with their respective fundraisings on Thursday, seeking everything from dollars to Singapore dollars and green debt.
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After mandating leads on Wednesday, Bank of Montreal is set to open books on Thursday for what will become the longest Canadian covered bond in euros. Having issued three year and five year deals this year, BMO’s fourth trade of 2016 will be a curve extending seven year.
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OfficeFirst Immobilien, the German property company spun out of IVG Immobilien, has postponed its €740m Frankfurt IPO two days before it was due to be priced, in a volatile time for real estate stocks
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Some eight banks that arranged Saudi Arabia’s $10bn loan in May have secured berths on the sovereign's bond extravaganza that is due to kick off this week.
