Deutsche Bank

UK property group Hammerson came to the corporate bond market on Tuesday with a €500m offering, as deal flow hit a more subdued tone ahead of the European Central Bank’s Thursday meeting.

Ten of the 11 banks that underwrote Saipem’s €3.5bn rights issue sold the bulk of their remaining overhang in the stock in a block trade on Monday night, making a gain. But Banca Imi decided to take the riskier path of selling its holdings by itself at a later date.

The FIG senior unsecured market welcomed lower beta trades from DVB Bank and Dexia Crédit Local on Tuesday, as bankers started to turn their attention to Thursday’s European Central Bank meeting.

The Republic of Indonesia is set to go on the road to meet investors for its annual return to the dollar sukuk market.

All but one of the banks that underwrote Saipem’s €3.5bn rights issue, and were left holding €427m of the Italian oil and gas engineering group’s stock, are selling down their stakes tonight.

Core eurozone issuers are set to pepper the euro curve over the next two days, before all attention turns to a much anticipated European Central Bank meeting on Thursday.

Senvion, the German wind turbine maker, has set the price range for its Frankfurt initial public offering at a level that implies a heavy discount to its main listed peers.

Policymakers and regulators, be warned: US investment banks are poised to exceed the market share of their European counterparts in Europe, which could set back European initiatives to stabilise the region’s banking sector while increasing corporate and retail access to capital.

A pair of SSAs are set to print in the Australian dollar market this week, as bankers report strong Asian appetite for public sector Kangaroo bonds.

Hutchison China MediTech (Chi-Med), the drug-making arm of Hong Kong billionaire Li Ka-shing’s Hutchison Whampoa, has opened books for its $100m IPO on the Nasdaq.

Covestro, the German polymer manufacturing business spun off by Bayer last year, made its first bond issue on Thursday, raising €1.5bn in three tranches.

Deutsche Bank has named Boon-Kee Tan as its new head of FIG for Asia Pacific, replacing Bill Nichol who is leaving the bank this year.