Deutsche Bank

Abbey National and Banque Fédérative du Crédit Mutuel have opened up 2015's market for fixed rate senior unsecured bank bonds, offering investors longer tenors than the three floaters from other issuers also in the market today.

Attractive levels helped drive demand for the first wave of floating rate notes to hit the Euromarket this year on Wednesday, as Bank of Nova Scotia, Rabobank and Société Générale all issued floating rate trades.

The Republic of the Philippines overcame an unusually sluggish market this week to print a $2bn bond as part of an accelerated switch process. The Asian bond market was quieter than normal in the first week of the year, thanks to high volatility caused by plummeting global oil prices and fears of a default in the Chinese property sector.

KfW targeted the belly of the Kangaroo curve for its first new issue of the year on Tuesday.

State Grid Corp of China, a government-owned utility, has mandated banks for a possible debut euro bond to be issued through its European subsidiary, State Grid Europe Development.

Promsvyazbank has made another opportunistic move to manage its debt liabilities, on Monday announcing a buyback of 10% of its 2015s and 2016s. The move shows the bank has liquidity to deploy and follows an earlier buyback in December.

Republic of the Philippines has become the first Asian issuer out of the blocks in 2015, launching a new 25 year bond and giving investors the option to switch out of 15 outstanding deals.

Property company Greenland Hong Kong’s subsidiary True Thrive has signed a three year dual currency loan term loan with a syndicate of eleven banks.

The Export-Import Bank of Korea (Kexim) has mandated seven banks for its first bond sale of 2015, in a deal that is expected to hit the screens by mid-January. The borrower is making an early start to its fundraising in a year that will see it raise up to $13bn offshore.

Håkan Wohlin, global head of debt origination, is on leave from Deutsche Bank.

Deutsche Bank looks set to finish second in the 2014 league table for bookrunners of global supranational, sovereign and agency bonds, excluding US agencies. Deutsche has been top every year since 2010.

Beijing Energy Investment Holding (BEIH) issued what looks to be Asia’s last dim sum bond in 2014 on December 16. Despite the issuer’s status as an SOE wholly owned by the municipal government of Beijing, it was not able to tighten guidance by much due to low liquidity in the market.