Deutsche Bank

Colombian infrastructure development bank Findeter (Financiera de Desarrollo Territorial) will begin a roadshow on Thursday more than 18 months after it told GlobalCapital it was planning its debut international bond issue.

Deutsche Bank, according to recent wisdom, trades too many bonds. Or rather, it doesn’t trade nearly as many as it had planned to. Global fixed income volumes are on the floor, banks cannot hold much inventory, margins are under pressure. Clients are over-broked, prop trading is over, and you still have to pay everyone. But is the German giant ramming that back down critics' throats?

Commodity trader Gunvor Group has refinanced a $500m secured revolving facility, replacing the one year loan it signed last year in July as well as funding its refining and marketing activities around Bavaria.

Générale de Santé, the French private healthcare provider, allocated its €1.1bn acquisition loan on Tuesday after cutting the margin on the term loan ‘B1A’ to 350bp over Euribor.

Deutsche Bank’s debt heavy investment banking model received scant boost from the rebound in global IPO revenues this year, unlike some of its US peers. Deutsche reported ECM revenues up 30%, but that translated to an increase of just €61m to a total of €265m.

Anglo-Dutch publisher Reed Elsevier issued its latest five year bond in sterling on Friday, taking advantage of limited supply to meet some of its funding needs in the currency.

Global Cloud Xchange (GCX), a subsidiary of Indian telecommunications company Reliance Communications, priced its debut international bond – a five year non call two – on Thursday. Although the non call two structure has been uncommon in the Asian high yield domain, it is expected to offer more flexibility to the growing company down the road.

Tata Steel raised $1.5bn with its inaugural transaction on Thursday, as it looks to refinance loans incurred as a result of its $13.1bn acquisition of Corus in 2008. Despite pricing on a day when almost $2.5bn of new issues was injected into the Indian high yield arena, the trade nonetheless pulled in bids worth $9.1bn.

Renewable energy Greenko Dutch priced its ground breaking debut international bond on Thursday night. Despite its novel structure, the dollar deal saw strong demand as investors took to the positive outlook for the high yield borrower, as well as India’s renewable energy sector, and the company was able to close a transaction 10 times the size of its Ebitda.

Indian Oil Corp has closed its $650m five year financing with 18 banks joining during syndication. The deal was described by bankers as a resounding success after commitments worth $1.15bn piled in.

Yield starved investors are showing growing interest in picking up New Zealand dollar paper, looking to stock up on bonds denominated in the currency of the only developed economy enjoying rising interest rates. Rabobank and Commonwealth Bank of Australia both sold Eurobonds in the currency this week, drawing attention from institutional investors as well as the retail buyers that normally dominate the asset class.

Hestya Energy - Materis - GHD Gesundheits