Deutsche Bank
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Armenia sold $500m of 10 year notes on Thursday while simultaneously completing a buyback of its 6% 2020s at par.
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Deutsche Lufthansa, the German airline company, has announced its intention to issue its first hybrid bond, in the same week that strikes forced it to cancel hundreds of flights. -
Auto Trader shares shot up on the start of trading Thursday, at one point reaching a high 16.5% above issue price, after the new and used car sales website completed its £1.39bn London listing.
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The hot demand in Europe's credit markets has already brought a stream of US investment grade borrowers to issue in euros. This week, four US high yield issuers rated single-B joined the caravan, writes Victor Jimenez.
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Emirates NBD issued a €550m seven year bond on Tuesday, a breakthrough for Middle East banks in the euro market. But bankers said they are uncertain whether other issuers will now follow.
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Norway’s DNB did not inspire on its additional tier one debut on Thursday, failing to attract the same level of interest as Swedish peers achieved in recent weeks.
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Armenia released price guidance for a 10 year dollar bond at 7.625% area on Thursday morning and the book size is already past the $500m target size.
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India’s Adlabs Entertainment wrapped up its extended IPO this week, raising Rp3.70bn ($59m) by pricing its shares at the bottom of a revised range.
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Bank of America Merrill Lynch and Deutsche Bank are working on allocations tonight on the IPO of Auto Trader, which has been a big success.
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Repsol, the Spanish oil company, has issued a €2bn hybrid bond as part of the long term financing for its $8.3bn (€6.6bn) acquisition of Talisman Energy.
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India’s Adlabs Entertainment has finally wrapped up its extended IPO, raising Rp3.70bn ($59m) by pricing its shares at the bottom of the revised range. Concerns over an expensive valuation, combined with a volatile period for Asian markets during bookbuilding meant investors were quick to lose their appetite for the company’s stock.
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Emirates NBD printed a €550m seven year bond on Tuesday, a breakthrough for Middle East banks in the euro market. But bankers said they are uncertain whether other issuers will now follow.
