Deutsche Bank
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The Modi administration launched its up to Rp226.13bn ($3.68bn) offer for sale of shares in Coal India on Friday, a mammoth trade which could be one of India’s biggest yet. -
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Wittur, the German lift components producer, set price guidance for its €285m ($322.23m) acquisition loan at a London bank meeting on Monday, a day before its new private equity owner, Bain Capital, added TI Automotive to its portfolio.
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Pelabuhan Indonesia II (Pelindo II) surprised loans bankers this week with its decision to limit a $1bn borrowing to just over half that amount, causing the cancellation of general syndication. This was just the latest twist for a loan that has been anything but straightforward, though the outcome is unlikely to hurt the borrower in the long run.
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Indian companies were out in full force this week to tap the equity capital markets. Leading the way was the Indian government’s long-awaited $3.95bn divestment of its stake in Coal India.
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Deutsche Bank’s fourth quarter numbers show the firm defying doubters who questioned the wisdom of its recommitment to fixed income trading. The bank reported fourth quarter debt sales and trading revenues up 13% to €1.15bn, against a backdrop of its US peers reporting drops of 16% (Citi) to 30% (BAML).
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Energy firm Viridian Group began a roadshow on Thursday for a €600m senior secured bond, which it will use to redeem its $670m-equivalent debut bond, amid renewed investor interest for strong single B-rated names.
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Elis, the French workwear laundry company owned by Eurazeo, on Wednesday launched its initial public offering in Paris, as it hopes to raise €750m to reduce its debt levels.
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European investment grade syndicated lending last year reached its highest volume since 2007, at $716.9bn, according to Dealogic data. More mergers and acquisitions are needed to maintain such high volumes in 2015, bankers agree, and QE could be a driving force for M&A.
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Baoshan Iron & Steel (Baosteel) is seeking to issue its first euro bond after mandating seven banks for a series of investor meetings starting on February 3.
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Philippine lender Security Bank made its mark on the dollar debt market for the first time on January 27, raising $300m from an order book that was close to six times covered. The good reception was helped by a tidy new issue premium and the country’s status as a safe haven from recent market volatility.
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Meif Renewables, Macquarie European Infrastructure Fund Renewable Energy UK, priced its first bond issue on Thursday.
