Deutsche Bank

Iceland's Arion Banki is to test the outer limits of investors’ growing receptiveness to peripheral European credits. The bank, carved out of the failed Kaupthing, is seeking to launch the first euro bond from an Icelandic financial institution since the credit crisis, writes Graham Bippart.

This week's bank people moves

Liability management transactions continue to dominate Brazilian bond supply, with regulars Braskem and Votorantim raising money for buybacks on Wednesday.

Financial issuers highlighted strong demand for floating rate paper this week, with syndicate bankers expecting issuance to pick up again after the Easter break. Issuers are proving keen to save on funding costs while investors are happy to pick up protection against the possibility of rising rates.

Tanks are moving in Ukraine and shots being fired are no longer isolated. But to look at financial markets, you would think Russia’s president Vladimir Putin had flown to Kiev to kiss and make up.

Investors snapped up a pair of tightly priced benchmarks from public sector issuers this week — setting up for promising issuance conditions when their funding officials return to the office after the Easter break.

Deutsche Bank has appointed Kunardy Lie, formerly with Citi, as chief country officer for Indonesia.

State Grid Corp of China will meet with investors next week, as it looks to make a return to the dollar market following its last deal, a $2bn triple trancher in May 2013.

MIE Holdings priced a $500m bond on Tuesday night to redeem an existing bond that will be called in May. A substantial anchor presence in the order book built a solid foundation for the 144A/Reg S transaction, which managed to print slightly inside the issuer's existing curve.

Strong demand for a pair of benchmarks, plus Italy’s latest BTP Italia, in what is typically a quiet week in the lead up to Easter holidays, has issuance conditions looking promising for sovereign, supranational and agency borrowers when the market re-opens next week.

Technology firm Tencent has been on a bond investor roadshow after putting in place a $5bn GMTN programme.

Wells Fargo and Macquarie Bank highlighted the demand for floating rate paper on Tuesday, with both banks selling euro denominated FRNs. Syndicate officials away from the deal said that the deals are likely to be the last senior trades from banks ahead of the Easter break.