Germany
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Deutsche Börse and the London Stock Exchange Group have agreed terms for an all-share ‘merger of equals’, in a push for European derivatives dominance that turns up the pressure on US rivals. -
Senvion, the German wind turbine maker, pulled its €700m IPO on Wednesday morning, after a difficult bookbuild that failed to deliver a covered book.
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Commerzbank launched a €1bn 10 year tier two transaction first marketed in January on Wednesday, as investors continued to commit in large numbers to new subordinated bank debt offerings.
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Caisse d'Amortissement de la Dette Sociale found strong demand at the five year part of the dollar curve on Tuesday, as L-Bank delayed a deal in the same currency and tenor.
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UniCredit has announced a series of changes to its international wholesale businesses, including establishing a new UK coverage business.
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Deutsche Bank launched a defensive three year senior trade on Tuesday, as the lender looked to make its way back to the public debt market after a tumultuous start to the year.
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Landesbank Hessen-Thueringen Girozentrale (Helaba) returned to the euro covered bond market on Tuesday for its second deal of the year, as Royal Bank of Canada was set to issue the second deal from a Canadian bank in dollars this year. Bank dealers reported more mixed flows in the secondary market compared to last week but sentiment is still positive.
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L-Bank is set to print a five year dollar benchmark as investors eagerly await the outcome of this week’s Federal Open Market Committee (FOMC) meeting.
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Telefónica Deutschland, the German subsidiary of telecommunications group Telefónica SA, is in the market for a syndicated loan, according to bankers.
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A funding official at a leading public sector borrower will move to a bank’s syndicate team in the summer, GlobalCapital understands.
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Another week and another first for the Schuldschein market, in what has been a stunning first quarter for the German private placement market. Fresenius US Finance II has completed the largest dollar deal in the market, raising $400m, according to bankers.
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