Deutsche Bank

The Boston Retirement System (BRS) is suing five banks and four traders for allegedly conspiring to manipulate bid-ask spreads on SSA debt traded in the secondary market, increasing their profit at the expense of their clients.

Caja Rural de Castilla-La Mancha this week issued the first Cédulas in more than two months and swept aside concerns that peripheral issuers would need to pay lavish new issue concessions.

Nederlandse Waterschapsbank showed the bid for duration in euros is alive and well, after a rapid book build on Thursday on its debut 20 year euro syndication, while a French agency lined up a dual tranche deal.

Deutsche Bank has announced a series of senior changes to its debt capital markets team, including a new head for the financing and solutions group in EMEA and Asia-Pacific, and a new client strategy role for Niels Ackerman, the former EMEA co-head.

Kuoni, the Swiss travel firm, finally allocated a €575m seven year cov-lite term loan ‘B’ at much wider pricing than original talk, and after a drawn out syndication process.

Deutsche Bank is in the market this evening with a block trade of about €319m in shares of Euler Hermes, the Paris-listed trade receivables credit insurer. It is the first equity capital markets deal in the stock since 2002.

Export Development Canada is set to join what one SSA banker described as a “ridiculous” dollar market, where issuers are selling in big size and with little or no new issue premiums.

Export Development Canada sold its largest bond in sterling in over two years on Wednesday as investor appetite for the currency showed little sign of abating.

Allnex, the Brussels-headquartered coating resins business, has released price talk on its €760m cov-lite term loan ‘B’ while Amor, the German jeweler, has launched its €145m buyout debt package.

Dutch car finance bank LeasePlan was in the bond market on Tuesday for a €750m five year deal that won a €1.8bn order book, just one month after issuing another benchmark trade.

The Gulf region is on for a record first five months of the year with Qatar, Noor Bank, Etihad, DP World all mandating for bonds this week, while Petrobras printed an eye catching $6.75bn deal.

Ooredoo, one of the largest telecommunications firms in the Middle East and Africa, is refinancing a $1bn three year revolving credit facility, according to two bankers.