Deutsche Bank
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Bank borrowers returned to a stronger euro bond market on Tuesday, but deal arrangers warned of lingering concern over rates and inflation as KBC Group struggled to draw a crowd for a long-dated offering. -
Three Chinese borrowers and one Hong Kong issuer hit the international bond market on Monday, getting ahead of a pick-up in deal flow expected in the rest of the week.
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Volatility subsided amid a series of public holidays in Europe on Monday, raising hopes for a busier week of bank bond supply.
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Metropolitan Life ended an almost 12 month absence from euros this week as the insurer raced towards what could be its busiest year since 2019.
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Brussels jumped into the long end this week, printing the longest MTN in over a month.
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Europe’s high grade corporate bond issuers had a tough week in the primary market after inflation fears sent investors fleeing risk.
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Muenchener Hypothekenbank (MunHyp) harnessed the growing demand for environmental, social and corporate governance (ESG) paper in the Swiss market to land a tap 7bp through the bid side this week. Elsewhere, Toyota ended a 12 year absence from the Swiss franc market to sell the currency’s first automobile deal of the year.
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Europe’s high grade corporate bond issuers had a second tough day running on Thursday, as secondary spreads inched wider and investors proved lukewarm to new issuance.
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Deutsche Bank is bringing in Daniel Ross from Barclays to oversee its investment banking activities in the UK and Ireland, taking over from Scott Bell, who is moving into a chairman post.
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Credit Suisse equity capital markets veteran Stephane Gruffat is set to join Deutsche Bank, according to an internal memo seen by GlobalCapital.
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Europe’s corporate bond buyers shied away from riskier deals on Wednesday as equity markets plunged, leaving a junk rated hybrid from SES to limp over the line while other credits fared better.
