Deutsche Bank

Europe’s corporate bond market burst into full scale action on Wednesday, after two weeks of sporadic new issuance. A €3bn deal from Sanofi, the French pharmaceuticals company, was joined by €1bn from Toyota Motor Credit Corp, €500m from property company Foncière des Régions and yet another small deal from Volvo (see separate stories).

Senior unsecured supply for the autumn kicked off this week, with Deutsche Bank and Nykredit becoming the first banks to issue senior debt this month. With little recent supply, bankers away from the deals found themselves in disagreement over whether the leads had hit optimal pricing for the deals.

Dutch business publisher Bureau van Dijk has started the autumn run of leveraged loan deals, launching a €620m loan to back its buyout by EQT.

The wave of acquisition financings kicked off this week as Marathon Petroleum exploited the recent sharp rally rates and caught investors in eager mood following the August lull.

European investment banks have managed to stem a decline in market share, making progress on capital and leverage targets, according to research from Deutsche Bank. The note, a outlook of the next 10 years in investment banking, also finds that a wide range of approaches means well-managed banks can prosper.

Deutsche Lufthansa, the German national airline, announced on Thursday plans for a €500m five year bond, its first since 2009.

Corialis - KKR's Finedining Capital - Douglas Holding

Finedining Capital, a holding company owned by KKR, will launch a €615m loan to back its purchase of a 90.3% stake in German kitchenware producer WMF's preference shares.

It was second time lucky for Khazanah Nasional this week, as the Malaysian sovereign wealth fund managed to complete a $500m exchangeable sukuk on Wednesday after pulling the same transaction just three months ago. Moving away from a very aggressive stance to slightly more investor-friendly terms helped get the transaction across the line, but it was an uphill battle all the way, writes Rashmi Kumar.

Bureau van Dijk, the Dutch business publisher, held a well attended London bank meeting this morning for its €620m loan, during which original issue discounts were released for all three tranches of the deal’s term loan.

Bookrunners were quick to point the finger at Korea Development Bank (KDB) after its new bond this week drew few orders and then sold off in secondary. But while KDB acknowledged the $750m deal had been priced aggressively, the issuer said it was following strategies recommend by its syndicate banks, writes Virginia Furness.

Mobile phone maker Xiaomi launched its $1bn dual tranche loan into general on Tuesday afternoon, following a successful senior phase during which 17 banks joined for the bookrunner and mandated lead arranger title.