Deutsche Bank

An impressive order book allowed Allianz to ratchet in pricing on a new dated subordinated deal on Monday by as much as 15bp on initial price thoughts.

The Privatisation Commission of Pakistan started roadshows for its divestment from Habib Bank on Monday, March 30, in an offering that starts at a base size of 250m shares with a possibility to sell as much as 609m shares depending on demand.

Deutsche Bank has lost its head of equity capital markets for Asia ex-Japan after Neil Kell, who first joined the firm in 2010, resigned.

Apax-owned Top Right, the UK information and events group, has launched a £435m-equivalent refinancing loan that will be denominated in dollars and euros.

DTEK Energy Group, the largest privately-owned energy company in Ukraine, is warning of a possible default as it attempts to exchange its $200m Eurobonds due April 28, 2015.

German automotive supplier Schaeffler AG on Thursday announced a €1.5bn-equivalent dual currency three tranche bond issue, designed to opportunistically refinance high coupon debt.

Hyundai Capital Services has returned to the offshore debt market, pricing a 5.5 year dollar bond on March 23. The rarity of high quality Korean corporate credits, the name value of Hyundai, as well as a recent rating upgrade, attracted strong demand, allowing the Korean issuer to achieve its size and pricing aims.

Deutsche Bank was awarded the biggest ever single quota for the Renminbi Qualified Foreign Institutional Investors (RQFII) scheme on March 26, its Rmb6bn ($966m) taking the total allocated size of the programme to Rmb330bn at 111 firms.

Predicting levels of equity-linked bond issuance must be one of the hardest jobs in the capital markets. The market follows its own rhythm and reasons, which even veterans struggle to forecast.

The spate of very large and strategic block trades has continued this week, with sales of stock in Accor, Dassault Aviation, the London Stock Exchange and Havas, totalling an expected €5.2bn.

Air France KLM successfully issued its first hybrid bond on Wednesday, a €400m perpetual non-call 5.5 year.

German IT company SAP has completed the long term financing for its acquisition of Concur, the US expenses software firm, with a €1.75bn floating and fixed rate bond.