Goldman Sachs

Slovenia has firmed price guidance for a euro 16 year benchmark to 147bp over mid-swaps, a level that syndicate officials away from the deal said represents a double digit new issue premium.

Cochin Shipyard is going through pitches from nine local banks for an IPO in India that could raise more than Rp10bn ($147m), with the state-owned firm expected to choose up to three lead managers.

Delta Lloyd, the Dutch insurance company, bowed to investor pressure and cut the size of its planned rights issue by a third on Wednesday, to €650m.

All eyes in the European leveraged finance market are focused on Solera’s $3.9bn debt package, the only deal in play.

HSBC has hired Matthew Westerman, former chairman of EMEA investment banking at Goldman Sachs, as co-head of global banking. The division will expand to take in capital financing and the larger clients from commercial banking.

The SSA market has seen a steady stream of activity across the euro and dollar markets this week. The European Stability Mechanism priced the week’s biggest deal on Tuesday, printing €4bn in 10 and 40 year tenors. Meanwhile African Development Bank led the charge in dollars, preparing to print a $1bn no-grow in its first benchmark deal of the year.

The hidden depth of demand in Europe’s corporate bond market was made amply clear on Monday, when Vodafone trounced market expectations that it would issue a €3bn bond — itself a large and bullish transaction — by raising €6bn.

Tim Leissner, the chairman of Goldman Sachs’ southeast Asia operations, is understood to have left the bank.

Any fears that investors might be nervous about sterling bonds in the run-up to the UK’s referendum on European Union membership eased with a pair of deals on Tuesday.

Saipem’s unfortunate €3.5bn capital raise could have wide-ranging consequences for other firms desperately in need of fresh cash to weather the commodities downturn.

Goldman Sachs had $10.6bn of credit exposure to the oil and gas industry as of December 2015, according to its annual regulatory filing.

India’s Cochin Shipyard is set to hear pitches from nine local banks for its more than Rp10bn ($147m) IPO on Thursday, from which the state-owned firm will pick up to three lead managers.