Deutsche Bank
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Logan Property Holdings is meeting fixed income investors next week in Hong Kong and Singapore. -
The renminbi’s global footprint deepened on Thursday when Bank of China Luxembourg and Agricultural Bank of China Hong Kong printed the first CNH notes from a Chinese borrower to be listed in the eurozone.
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Santander and UBS both took to the Reg S market on Thursday to sell subordinated debt to dollar hungry European and Asian investors.
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Concerns over Brazilian economic growth are apparently not strong enough to prevent issuers from the country making the most of bond investors’ desperate search for yield. First Caixa Econômica Federal and then Fibria Celulose issued tightly-priced, well oversubscribed deals at a larger than originally indicated size this week.
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Mexican broadcaster Televisa took the LatAm bond market deep into negative new issue premium territory on Thursday as confidence regarding rates and immunity from political turmoil in eastern Europe provided LatAm borrowers with issuance conditions well beyond the expectations of many bankers.
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Íslandsbanki sold its inaugural euro bond with a €100m private placement this week, in contrast to Icelandic peer Arion Bank’s suspension of its planned public benchmark euro deal last week.
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Flint Group, which makes products for the printing and packaging industries, has made final adjustments to the original issue discounts for its €1.5bn-equivalent of debt after raising the margins on first and second lien tranches.
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German insurer Württembergische Lebensversicherung sold its second ever subordinated bond on Wednesday. Recent sub deals from insurers have attracted favourable responses from investors, a result of offering a more attractive yield than comparable bank paper.
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Rentenbank sold more than double its minimum target with a long dated Kauri deal this week, highlighting diverse demand for bonds denominated in the currency. The European Investment Bank and KfW also seized on investor demand for long dated paper, selling 10 year Kangaroo taps, and syndicate bankers expect the deal flow to continue into next week.
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Swiss private bank Julius Baer will hold roadshows for its second ever Swiss franc tier bond next week, building on a solid week of issuance in the currency from domestic financial institutions.
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Nets — Stahl — Schaeffler — Excellia Group
