Goldman Sachs

Equity capital markets issuance in EMEA is already nearly €5bn ahead of last year's pace, at €19.6bn so far this year, and the total is set to nearly double this week when UniCredit completes its €13bn rights issue.

The Asia debt market saw a fresh rush of dollar deals on Wednesday, with property names China Jinmao Holdings Group and Xinhu Zhongbao, as well as Singapore’s United Overseas Bank launching new deals.

A unit of Goldman Sachs raised Rp8.4bn ($125.2m) on Tuesday after selling down some of its stake in India’s Max Financial Services, taking advantage of a run-up in the stock.

Deutsche Wohnen, the German housing company, has launched this evening a parallel issue of €500m of new shares and an €800m convertible bond, breaking a quiet spell in Europe’s equity-linked market.

Companies were able to tighten pricing on euro deals this week, as investors said they expected the corporate market to keep shrugging off the political headline risks in Europe that have prompted widening in some government bonds.

French issuers appear unfazed by political turbulence afflicting their sovereign's curve, with two borrowers in the market this week. Meanwhile, the European Financial Stability Facility sold its largest deal tranche in over 2.5 years.

Citic and Xinyuan Real Estate are out with their respective bonds on a busy Tuesday in the dollar debt market, as China Jinmao Holdings Group also announces a tender plus new issue as part of its liability management.

The European Financial Stability Facility (EFSF) has surprised SSA bankers by returning to the long end with one tranche of a deal it plans to launch on Tuesday.

BBVA sold down part of its holdings in China Citic Bank Corp for HK$4.6bn ($587.2m) on Wednesday, taking advantage of an unexpected rally in Chinese banking stocks.

Large leveraged buyouts may be set for a return to Europe’s leveraged finance market following a lengthy sojourn. Stada, the German generic pharmaceuticals firm, this week said it was fielding numerous buyout offers worth around €3.5bn, offering investors the respite from relentless repricings that they have craved for several months. Max Bower reports.

Europe’s IPO market — sluggish, so far this year — is beginning to warm up, with the announcement of a smattering of new deals this week.

A trio of Wall Street titans topped up their funding needs this week, taking advantage of favourable funding conditions as they continued their run of issuance to meet upcoming capital requirements.