Deutsche Bank
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Germany’s Kion Group, the largest European forklift truck manufacturer, is redeeming its €450m of secured notes at their first call date next week with proceeds from a new, cheaper loan facility. -
Action, the Benelux non-food discount retailer, has allocated its €1.2bn dividend recap and refinancing facilities at an impressive margin in volatile market conditions.
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Fears about additional tier one (AT1) bonds deepened on Thursday, as the asset class gave up Wednesday’s gains and resumed its steady march downward.
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Scandinavian Tobacco, the cigar and pipe tobacco maker, rose 2% when it made its stock market debut on Wednesday, before returning to the level at which its IPO was priced.
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Vinod Vasan, who resigned from Deutsche Bank on Wednesday morning, will be returning to UBS.
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Bpifrance Financement sold a five year €500m bond on Wednesday as a moderate rise in Bund yields suggested calm after a turbulent open to the week.
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Additional tier one paper rebounded sharply on Wednesday as fears about the risk of coupon deferral subsided and investors— and Goldman Sachs — decided to test the senior market with a short dated issue.
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Deutsche Bank's global head of FIG origination has left the bank to head to another firm.
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An unprecedented sell-off of additional tier one paper led to turmoil across credit and equity markets this week, but a sharp pricing rebound left the FIG market looking much different on Wednesday.
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On Tuesday night the loan market gathered in all its finery to hear the winners of the 13th Syndicated Loan, Leveraged Finance and Private Placement Awards at the Guildhall, in London. The results are below.
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The sell-off in European banks is terrifying and baffling, all at the same time. GlobalCapital would be first to admit there are still issues — poor growth, weak balance sheets, non-performing loans, defered tax assets, complex forms of untested capital cooked up in regulatory labs – but the continent’s biggest banks aren’t going anywhere. For one thing, they are still too big to fail.
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Ascential priced its initial public offering on Tuesday, for a deal size of £279.9m. After a rocky first day on the London Stock Exchange, the information and events business finished the day with its shares trading at the exact level at which they had been priced.
