Deutsche Bank
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First Gulf Bank (FGB), the third largest bank by assets in the UAE, is out with its first dollar bond since 2013. Leads talked the five year bond at 100bp-105bp over mid-swaps on Tuesday morning. -
Chinese private company Phoenix Healthcare has wrapped up the Taiwan targeted syndication of its $150m three year loan with a group of 11 banks.
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Lixil, the Japanese companies that makes bathroom fittings and other building products, today raised ¥120bn (€892m) through the international sale of two convertible bonds of equal size, which were more than twice oversubscribed.
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Property company Greenland Hong Kong is back in the market, this time for a $300m fundraising with one bank in the lead. The new loan, which will finance the real estate company’s offshore projects, comes backed by a standby letter of credit from Export-Import Bank of China.
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Baoshan Iron and Steel (Baosteel) was the latest in a string of Chinese issuers to tap the euro bond market when it priced a €500m three year note on Friday. The deal followed transactions by China State Shipbuilding and China Construction Bank.
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Wittur, the German lift components producer, has become the latest midmarket leveraged loan borrower to join this year's rush to market with a covenant-lite loan - and like the others, has been forced to widen its pricing.
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The Schuldschein market is not sitting back and basking in the glory of ZF Friedrichshafen’s €2.2bn deal in January. There are a large number of deals in the market from local and international issuers including Telefónica Deutschland, Gerry Weber, and Rhenus Logistics.
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Emirates NBD priced the longest Kangaroo bond from a Gulf bank on Wednesday. The bank is keen to establish its presence in the Aussie dollar market and paid a 10bp new issue premium to ensure a good secondary performance, according to bankers.
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Deutsche Bank and BNP Paribas took to the tier two market this week with 10 year bullet trades, with Deutsche opening up first on Monday. Both deals found a hearty investor reception, trading tighter than reoffer in a secondary market that was often weak.
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Tyco Electronics and Tyco International baffled bankers this week by announcing mandates for euro bonds within days of each other.
