Germany

The Schuldschein for German healthcare group, Asklepios has been increased from €250m to around €600m after oversubscription from investors, according to a banker on the deal.

Frankfurt-listed Snowbird, a Chinese down manufacturer, has cancelled plans to seek a secondary listing in Singapore, amid a wave of panic selling that has gripped stock markets this week.

Euro benchmark covered bond year-to-date supply is the lowest in the last decade as a series of macro events, combined with banks’ increasing focus on bail-in, have kept activity to a minimum.

Equistone Partners Europe has acquired a majority stake in TriStyle Mode, the German women’s fashion group, with funding from a club of five banks.

Chorus Clean Energy, the German solar and wind power plant operator that pulled its initial public offering last month, still hopes to go public.

Depfa ACS Bank has only one rating remaining after Standard & Poor’s became the second agency to withdraw its covered bond rating this week. Analysts suggest this could result in forced selling of Depfa’s covered bonds if Moody’s follows suit, but they still believe that the bonds will be paid out in full.

Adler, the German real estate company listed in Frankfurt, intends to issue a €175m mandatory convertible bond to help fund the acquisition of MountainPeak Trading Limited.

The close trade links between Germany and China are the main driver for a promising German RMB market. Marcus Sehr, global head of institutional cash, global transaction banking, at Deutsche Bank, tells GlobalRMB that new trade transactions should be the real key to promote more local RMB use.

A report by Scope Ratings argues that the German corporate Schuldschein market is more heavily populated with high yield issuers than has previously been acknowledged.

German healthcare group Asklepios is marketing a Schuldschein loan for €250m, but this should grow much larger, according to a banker close to the deal.

Tele Columbus, the German cable company, is planning a €240m capital increase with pre-emptive rights to finance acquisitions.

KfW has visited the syndicated market with in bond in an unconventional tenor on a Friday — typically a quiet day for deals — for the second week in a row.