Deutsche Bank
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YiChang HEC ChangJiang Pharmecutical Co has settled on a price range for its H-share float, with bookbuilding to kick off on December 14. -
In this round-up, RMB futures trading on international exchanges picked up in November, RMB clearing in Hong Kong picked up in the same month, ICBC is working on a Belt and Road financing venture, and Deutsche Bank helped a German corporate set up centralised RMB treasury functions in China. Plus, a recap of GlobalRMB’s top stories this week.
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At this time of year, attention in the equity capital market is divided between avidly fighting for next year’s mandates, which are beginning to mount up — and counting the spoils from this year. Has it been a good, bad or indifferent year — and for whom?
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German agency KfW will take the sustainability criteria of banks into account when they pitch for its green bond business — a move that could ensure the growing SRI market keeps true to its founding principles. But as Craig McGlashan reports, the decision could also slash the number of banks involved in the sector, which has been one of the few bright spots in the public sector bond markets this year.
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The crunch is coming. The Middle East loan market has long offered low margins and lashings of liquidity but pricing is widening, just as issuers flock to the market in droves, writes Elly Whittaker.
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Deutsche Bank has firmly denied that its removal from the Belgian Debt Agency’s list of primary dealers has any wider implications for its public sector debt business — but the move has left rival bankers fretting about the health of the sector.
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Eurofins Scientific, the French laboratory testing company, tried and failed to raise €339m of new capital in an overnight block trade on Wednesday night, despite the very strong recent performance of its shares.
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American Honda Finance visited the sterling bond market for a £250m seven year deal on Monday, in the same week that Total and Daimler also raised short dated sterling bonds.
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Goodyear Dunlop Tires, the US tyre maker, issued €250m of eight year senior notes on Wednesday. The notes are rated Ba1/BB, with a coupon of 3.750% and non-call protection of three years.
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David Lloyd Leisure, the TDR Capital-owned UK gym and spa firm, and Cooper, the French pharmaceuticals distributor, widened loan pricing this week as the leveraged market became increasingly selective.
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Intesa Sanpaolo issued a €1.25bn 10 year covered bond on Wednesday, a transaction that did not initially seem to be an obvious trade, but which in the end proved very successful.
