Deutsche Bank

Lufthansa is set to make a third attempt at its debut hybrid bond, mandating banks on Monday for a deal that could be priced as soon as Tuesday.

Asia’s US dollar bond market has started the week with a bang, with China Auto Rental (CAR), Peking University Founder Group and Shanghai Electric opening books for their respective transactions on Monday, August 3.

Tingyi (Cayman Island) Holding Corp accessed the offshore renminbi (CNH) bond market for the first time on July 30 with a three year Reg S dim sum trade. Like its debut dollar outing, investors were drawn to the rare credit from China’s food and beverage sector but some stayed away due to renminbi depreciation fears.

Deutsche Boerse revived the euro hybrid market on Thursday, selling the first such deal in the currency in three months and gathering a hefty order book in the process.

IBM and National Grid North America both took to the sterling market to sell tightly priced deals this week, showing there is arbitrage on offer for dollar funders — though both issuers kept their deals small.

Deutsche Boerse revived the euro hybrid market on Thursday, selling the first such deal in the currency in three months and gathering a hefty order book in the process.

Covered bond new issue premiums fell this week as six issuers raised a collective €5.5bn in three currencies with total demand of almost €8bn.

Canadian online poker platform Amaya has launched a $400m refinancing loan that will in part pay down debt incurred to acquire two rivals last year.

A recent $150m loan for Sub-Saharan-based telecommunications firm Africell has a four year tenor, bankers close to the deal have revealed.

Singapore can finally lay claim to a covered bond market after its largest bank, DBS, this week printed the country’s first deal in the asset class. The build-up was hardly plain sailing, but that did not stop DBS executing a very successful trade that will serve as a benchmark for its peers, writes Rev Hui.

An uptick in fixed income trading helped to treble Deutsche Bank’s second quarter profits to €818m. The bank also capitalised on increased market volatility to benefit from a surge of currency trading.

Rizal Commercial Banking Corp (RCBC) is in the market for a $200m three year loan, making it the fifth lender from the Philippines to seek funds offshore this year. Two mandated lead arrangers and bookrunners are leading the syndication. The deal comes with a $100m greenshoe.