Deutsche Bank
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More issuers are expected to take advantage of a booming senior market in euros later this week, following a pair of well received seven year prints from JP Morgan and Finnish insurer Sampo on Tuesday. A strong market tone following last week’s European Central Bank meeting and hunger for paper after a quiet summer period are expected to keep demand strong.
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Emirates NBD announced on Tuesday a new tier one perpetual offering. However, the bond will not be Basel III compliant and therefore will not have a point of non-viability (PONV) feature. -
Delachaux, the French industrial company, has launched a €765m loan that will refinance debt and enable it to pay a dividend to shareholders.
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The subordinated debt market for European financials was back in full swing with four deals out on Monday morning boosted by the European Central Bank's policy decisions made last week.
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Swedish appliance maker Electrolux has obtained a $3.3bn committed bridge facility for the full amount it has agreed to pay for GE Appliances. The company plans to replace the facility gradually with $2.5bn of bonds and an $800m-equivalent rights issue.
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Indonesia’s Mitra Pinasthika Mustika (MPM) is looking to make a debut in international bond markets. The automotive company will be meeting investors for a proposed Reg S dollar offering this week.
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China's Alibaba Group has thrown open its long awaited $21.13bn New York IPO, with a deal that is likely to be not only the biggest US listing ever but could also break the record for the biggest IPO globally.
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Deutsche Lufthansa, Germany’s national airline, launched its first bond today since 2009, at the remarkably tight spread of 75bp over mid-swaps – showing just how valuable a loyal following of domestic investors can be.
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Varde hires capital markets head - RBC takes telecoms team from Barclays - Deutsche takes US IB head from GoldenTree
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Santander and UniCredit reopened the door to the additional tier one market this week only to find what lay behind it was a very different dynamic from the one borrowers experienced before summer. An expected burst of supply is on the way and historically low coupons are causing investors to shy away from the AT1 from major European banks.
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From being all but frozen out of the capital markets a little over two years ago, eurozone periphery sovereigns could soon be in the position to dictate terms and push investors on duration, said bankers this week, following Portugal’s return to the 15 year part of the curve for the first time since the collapse of Lehman Brothers and Spain’s longest ever print. New measures from the European Central Bank that sent yields tumbling could put the sovereigns in an even stronger position, although that might not extend to Greece, which is planning a seven year bond for later this year.
