Deutsche Bank
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Chinese company Giant Investment, which is taking private online game developer Giant Interactive, has picked a group of seven banks to provide it with a loan of $850m to fund the buyout. -
Olam International, which is the target of a proposed acquisition by Singapore’s Temasek Holdings, is expected to launch its $1.2bn fundraising into syndication on the week of March 24.
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Deutsche Bank has been given licensing rights to the Stoxx Europe Low Beta High Div 50 Index and plans to issue structured products linked to the underlying.
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Indian travel website MakeMyTrip priced a $126m follow-on on March 13 in a transaction that was enlarged by 22%.
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The Republic of Azerbaijan brought its long awaited debut bond to the market this week. The country launched a successful $1.25bn 10 year transaction and showed that some issuers in the CEE region have remained largely immune to rising tensions between Russia and Ukraine. But bankers are unsure whether this will still be the case after a Crimean referendum at the weekend.
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Westpac this week issued its first euro denominated covered bond deal of the year and the second from an Australian issuer. The deal was only modestly oversubscribed as bank treasuries weren't interested because the bond is ineligible for liquidity buffers and repo with the European Central Bank.
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A strong run of dollar issuance throughout this week is likely to continue as investors look to put money to work in a stable rate environment, according to syndicate bankers. Caisse d'Amortissement de la Dette Sociale and the European Investment Bank crowned a barnstorming week in the currency, with jumbo deals in tough maturities.
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Investors in long dated senior unsecured debt appeared to have abandoned their yield targets this week, sending coupons below 3% on a Banque Fédérative du Crédit Mutuel fixed rate transaction, amid one of the busiest weeks of activity in the senior unsecured financials market this year.
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Santander and BNP Paribas printed their first dollar trades of 2014 as demand for investment grade paper continued its strong run.
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Virgin Media, the UK cable TV, mobile and fixed line telephone and internet group, has announced its first bond issue since the financing for its takeover by US cable investment group Liberty Global in February 2013. The deal is set to be the largest sterling high yield issue of 2014 so far.
