Deutsche Bank

FMS-Wertmanagement has tapped a sterling bond for £250m with an oversubscribed book as European and Japanese equity price gains spurred investor confidence.

Deutsche Bank’s shares jumped 10% on Friday, after the bank launched a tender offer for over $5bn in senior unsecured bonds.

Belgian telecommunications company Telenet, which is owned by Liberty Global, has drawn on €1.2bn of loans to fund the €1.325bn acquisition of Belgian mobile operator, BASE.

Saipem, the Italian oil and gas engineering group, announced late on Thursday evening an 87.8% take-up for its €3.5bn rights issue, leaving the underwriters potentially on the hook for up to €427m. In a concerning sign, the shares were suspended on Friday after falling 11%, though they have recovered to 6% down.

Chinese pharmaceutical company Hutchison China MediTech (Chi-Med) has picked a quartet of co-managers for a $100m listing on the Nasdaq.

It was hard to tell which was more worrying this week: the see-saw action in bank stocks, or the one-way tumble in additional tier one bonds. The only conclusion bankers and investors could offer is that, whether or not the industry is on the cusp of another meltdown, the issues of capital and funding are paramount once again. Graham Bippart and Tyler Davies report.

Supranational and agency borrowers showed their steel once again this week, printing a series of euro deals in the face of strong volatility.

European credit and equity markets suffered a sustained battering this week with financial borrowers facing ever greater scrutiny in the wake of poor results and concerns about their ability to meet coupon payments.

Despite the flimsy state of Europe's high yield market, its sister leveraged loan business remains vibrant, and this year is the most open of the four main leveraged finance markets: bonds and loans in dollars and euros, writes Max Bower.

UBS’s new global head of debt capital markets has made his first senior hire, naming Vinod Vasan, former co-head of debt origination at Deutsche, co-head of debt capital markets and client solutions coverage EMEA. Vasan’s former co-head at Deutsche, Nigel Cree, has also changed roles and will be running an integrated SSA business for the German bank.

Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.

Rentenbank was the sole issuer to test the dollar market this week, printing a $750m floating rate note.