Deutsche Bank

Deutsche Bank has hired a new head of fixed income and currencies structuring, who will also lead a project to analyse trading positions right across the investment bank and allocate capital appropriately

Slovenia on Tuesday was able to ratchet in pricing on a long seven year benchmark — which is for pre-funding — by 15bp from the initial price thoughts level to price with a new issue concession of just 4bp.

Deutsche Bank said profits in its investment bank were up 4%. But the rise was modest, thanks to a €250m increase in expenses, which it said was down to higher regulatory spending and legal fees. This includes fixed salary increases to meet the European Union’s bonus cap, which limits bonuses to twice fixed pay.

Peruvian cement company Unacem and Panamanian lender Global Bank brought new names to EM bond portfolios on Tuesday to remind the world that there are Latin American bond issuers beyond Chile.

Hutchison Whampoa showed off its impeccable access to bond markets today by selling dollar and euro bonds in the same day, and raising $5.4bn with heavily oversubscribed books.

Jaguar Land Rover, the UK car manufacturer owned by India’s Tata Group, has launched a $500m intraday bond issue on Tuesday.

Slovenia has opened books for a long seven year benchmark bond for pre-funding purposes. It is taking the first available window after market participants had digested the results of the European Banking Authority’s comprehensive assessment — which found two Slovenian banks wanting.

Korea Expressway pulled its dollar bond before the US open on Monday night after the issuer realised it was not going to achieve its target price. Bankers are frustrated and say that a decent trade could have been done at a higher yield, but the issuer was not willing to pay up.

The Socialist Republic of Vietnam is back in bond market after a four year break and is hoping investors will agree to swap out of a costlier deal issued back in 2005.

Analysts covering Peruvian debt expect hefty demand for cement company Unión Andina de Cementos’ (Unacem) planned benchmark size seven year non-call four deal, saying initial price thoughts offer an attractive pick-up to a longer duration but better-rated bond from fellow Peruvian Cementos Pacasmayo.

Bond investors scrambled to get a slice of China Hongqiao Group’s second dollar trade of the year with books ending up a massive 17x subscribed on October 27. Despite the red hot reception, the company was sensible enough not to push too hard on pricing in order to ensure that secondary performance was tip top.

Grand City Properties, the German housing company registered in Luxembourg, has achieved a high hit rate for its bond tender offer.