Deutsche Bank

French energy project management engineering and construction company Technip has pulled back from a potential bond offering, blaming volatile markets for its decision.

Every time it looks like the post-crisis reshaping of the financial system is over, banks seem to realise there’s much more still left to do.

Deutsche Bank took the criticisms of its ‘Strategy 2020’ plan — announced in April by then co-CEO Anshu Jain and followed shortly thereafter with his resignation — dead seriously, preparing investors for a shocking third quarter loss as it prepares to divulge new details on the plan.

Two previously long and prominent themes of the European financial market have completed a reversal in the past week, with the iTraxx Senior Financials index trading inside the Europe Main index and credit outperforming equity.

German businesses Schaeffler and Covestro successfully completed their initial public offerings this week after having scaled back on their targeted deal sizes.

Bravida, the Swedish plumbing, heating and electricals group, this week launched the bookbuilding phase of its initial public offering in Stockholm.

SSA borrowers shrugged off a hiccup by the Province of Ontario this week to issue a series of strongly supported benchmark euro deals.

Schaeffler successfully priced its Frankfurt IPO on Thursday. But the final size of the deal left the owners of the German ball bearing maker with far more shares than they had originally hoped.

Deutsche Pfandbriefbank was on track to print €500m of long two year debt after navigating the now familiar struggles of German senior debt issuance on Thursday morning.

Deutsche Bank’s announcement on Wednesday evening that it expects to report a net loss of €6.2bn in the third quarter isn’t expected to affect the bank’s additional tier one (AT1) bondholders.

The European Stability Mechanism looks set to issue its longest euro bond to date after sending out a request for proposals on Wednesday, as the European Union mandated for a long dated tap. Meanwhile, a German state hits the spot for investors.

A European sub-sovereign is set to bring its shortest dated benchmark in 18 months after mandating banks on Tuesday for a four year deal.