Deutsche Bank

Support from US fund managers helped Macedonia price a new sub-benchmark euro-denominated deal comfortably inside initial price thoughts on Tuesday despite rising geopolitical risk.

Allied Irish Banks will be going back to investors for more loss absorbing capital after mandating banks for a debut additional tier one issue, while the stellar performance of its recent tier two print reversed on Wednesday.

Allied Irish Banks is set to price one of the juiciest European financial institution bond issues of the year, after mandating banks for a debut additional tier one capital deal, just days after pricing a €750m tier two.

Standard & Poor’s has sent Deutsche Bank’s subordinated debt tumbling in secondary with a surprise move to slap it with a sub-investment grade rating.

SKF, the Swedish ball bearing maker, won a €2.2bn order book today (Tuesday) for a €500m no-grow bond, issued to partly fund a tender offer for older notes.

MasterCard, the US credit card payments company, raised €1.65bn on Monday with its first euro bonds - and only its third bond issue ever.

OTE, the Hellenic Telecommunications Organisation, held an investor call on Tuesday November 24 for what could be the first Greek corporate bond issue in euros this year.

New Europe Property Investments (Nepi) successfully priced a euro-denominated debut deal more than a year after first approaching investors in Europe.

Macedonia has emerged with a new five year euro-denominated bond offering a new issue premium of over 50bp at the initial guidance stage, according to two syndicate officials away from the note.

Banco Nacional de Desenvolvimento Econômico e Social (BNDES) will buy back $640m of senior unsecured notes at a discount, taking advantage of sub par dollar prices and its strong cash position to reduce its debt burden.

Piraeus Bank, the Greek bank most in need of new capital, said on Saturday (November 21) that it had completed the bookbuilding phase of its share sale, securing €1.34bn.

Edag, the German family-owned car engineering service provider, started taking orders on Monday for its initial public offering in Frankfurt.