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Rocket Internet has raised a $420m unlisted fund that will invest in its portfolio companies — an innovative funding mechanism arranged by Goldman Sachs.

Ever since it emerged that Saudi Aramco was considering a public listing, equity capital market specialists have been trembling at the potential for the largest IPO in history. Such a deal could also transform the Saudi exchange, finally bringing a rush of foreign investment into the country’s stocks.

The ECB can’t risk large disruptions in the European capital markets it is trying to support, nor paranoid doom spirals in the banks it supervises. So it needs care when and how it communicates with the market.

Doosan Group exited from Korea Aerospace Industries this month via a block, which in a move away from traditional sell-downs in Asia, was executed as a private placement. Privately placed blocks appear to be emerging as a new solution for deals during tough times — and it’s an approach that other South Korean vendors should replicate.

This week GlobalCapital honours rock stars and loans heads with a rock 'n' roll special.

The Basel Committee delivered a fantastic New Year’s result for the big trading banks — an increase of only 40% in trading book capital requirements. It sounds punishing, but really, it marks a big climbdown from the Committee.

Canada’s reputation as a top notch sovereign issuer may have taken a hit thanks to plunging commodity prices — with the problem particularly acute for oil producing provinces such as Alberta, which face rapidly rising borrowing needs. And the commodity concern comes as worries over a Canadian housing bubble linger on. But with its total net debt-to-GDP among the lowest of G7 countries and some of its smallest provinces able to bring strong bond deals to the international markets, the Canadian story is still a strong one.

The London Stock Exchange’s Order book for Retail Bonds — ORB — received lower issuance in 2015 than in 2014. The main reason was the strong return of banks to the lending field, supplemented by institutional direct lenders. But much made 2015 a year of advances and the mood was far from glum as seven ORB market participants came to the LSE to discuss a wide range of topics, including regulation, liquidity and defaults.

Central banks have become arguably the most important institutions in the world. With the autonomy to act with a resolve governments rarely match, it’s no wonder politicians have pinned so much hope on them. But elected leaders must take the reins back.

Equity capital market banks will love an IPO of Saudi Aramco, or parts of it, if one happens. But getting there is going to be arduous and could disrupt other business this year. The best thing for the market would be a quick and clear-cut process. Sadly, bankers say that is unlikely.

European Central Bank needs to give Europe's regions clarity on whether it will buy their bonds. Delaying the decision costs the central bank credibility, leaves the regions in a damaging limbo and hurts issuers that tend to print private deals.

While nursing a whiskey at the China Club this week, I couldn’t help but notice a group of bankers crowded around some tables in the corner. While they typically wouldn’t catch my eye, what drew my attention was that they all had a tipple in their hands but seemed too busy muttering expletives to drink anything.