Deutsche Bank

A non-call event could ‘severely’ reprice mezzanine bonds

After a sharp slump in corporate finance revenues, investment banks are facing an uncertain second half of the year. If previous downturns are a guide, job cuts will be inevitable before a new market reality emerges to trigger the next wave of capital markets and M&A activity. By David Rothnie

Borrowers turn to defensive tactics after market deteriorates overnight

Issuer attracts €32bn of demand in encouraging sign for other borrowers

There are some ominous signs as the Swiss bank struggles to put its past woes behind it, writes David Rothnie

The deal was increased to $8.5bn from $8bn at the last minute due to strong demand

Two successful sales of Vår Energi and Hochtief “still not a theme”, says asset manager

Italian energy group will need to accept lower valuation to push forward with green transition

Both issuers needed to settle for static spreads that offered chunky concessions

Korean bank initially sought three and five year money, but ended up shelving the shorter tenor

Default rate of 10.3% predicted in the US

Issuer is latest eurozone sovereign to garner less investor interest than for its recent deals