Deutsche Bank
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The woes of the Deutsche Bank, proclaimed the world’s riskiest global systemically important bank (G-Sib) by the International Monetary Fund, were compounded on Wednesday morning when it reported second quarter results. Headline figures confirmed that a challenging operating environment, as well as the bank’s painful 2020 restructuring plan, are hitting operations hard. -
Lat Am bond market participants said they expected market conditions to be highly supportive of Trinidad and Tobago’s proposed return to the bond markets on Thursday as the Caribbean island continues investors meetings.
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Former JP Morgan banker Ed Tsui is joining Deutsche Bank as head of debt syndicate, Asia, according to an internal memo seen by GlobalCapital Asia.
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A string of dollar issuance from public sector borrowers is set to extend into Wednesday, as Belgium mandated in the currency following a pair of deals from an agency and a supranational.
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Commerzbank released a preliminary set of earnings on Monday evening, with the operational risk management helping drive an unexpected decline in the bank’s common equity tier one capital ratio.
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A stream of dollar issuance over the last few weeks looks like it will keep flowing right into this Wednesday’s US Federal Reserve meeting, after a pair of borrowers mandated on Monday for no-grow $1bn deals.
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Eircom, the Irish telecoms company, on Monday launched a €200m tap of a high yield bond issued last month, which would cut its exposure to bank lending in its new €2.4bn debt structure.
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Lecta Group, the southern European coated paper manufacturer, on Friday printed a €600m two tranche bond in a high yield market comfortably readjusted to post-Brexit times, as issuance surpassed €2.5bn in five days.
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The list of lawsuits brought by pension funds against a group of banks and traders alleged to have manipulated the SSA market is now at least eight long, according to legal documents seen by GlobalCapital. It is likely that the lawsuits will be consolidated into a single action, according to one lawyer.
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Commonwealth Bank of Australia drew more demand than any other euro denominated Australian covered bond in over three years when it issued a €1.25bn 10 year this week.
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An attempted coup in Turkey last Friday threw its borrowers into a maelstrom of pulled bonds, credit rating uncertainty, and the country itself into a three month state of emergency. Unlike their loan market counterparts, bond and money market investors have been wary of calling the bottom of the resulting sell-off, but the damage is contained as EM bond inflows enjoyed another record week, writes Francesca Young.
