Goldman Sachs

Bahrain’s Ahli United Bank has released price guidance for its perpetual tier one bond at low 7% area. A syndicate official away from the deal called the guidance fair and said the deal would act as a test of Middle East liquidity after the fall in the oil price.

Daiichi Sankyo Company has exited from India’s Sun Pharmaceutical Industries in a jumbo Rp200bn ($3.2bn) block trade, pricing one of the largest ever ECM deals in the country. An extensive wall-crossing process over the weekend helped pave the way for the transaction’s execution, which saw a roaring finish despite turbulent market conditions.

A FIG DCM banker at Goldman Sachs has left to take on a similar job at US rival Morgan Stanley.

Euro issuance by US companies has slowed since mid-March, as many have been in earnings blackouts. However, after General Mills' deal on Monday, bankers expect US issuers to return, but at more modest levels than in February.

Redexis Gas, the Spanish gas distribution company, issued its second bond, a €250m 12 year, on Monday, after a three day roadshow last week.

Goldman Sachs reported quarterly results last week that were, by any measure, stellar. But some of the numbers look a little bit too special.

Telenet, the Belgian cable telecoms company owned by Liberty Global, has launched a €1bn loan to back its acquisition of Base, the mobile network operator.

Hony Capital has made a full exit from CSPC Pharmaceutical Group after having gradually trimmed its stake over the past two years, taking advantage of the recent rally in the Hong Kong index to net a whopping HK$9.78bn ($1.26bn) on April 16.

The first quarter numbers of the biggest US investment banks show that the right kind of volatility is back in the market, as divergent central bank policies pushed investors to take a view.

The European high yield market this week was in ebullient mood as borrowers left behind the Easter holidays and brought a wide variety of deals to market.

Merlin Properties, the largest Spanish real estate investment trust, has announced a fully underwritten rights issue, to raise €613.8m, a 50% capital increase. It is also considering bond issuance in future.

JP Morgan and Goldman Sachs followed in the footsteps of European banks by tapping the dollar market for tier one capital this week, exploiting investors’ thirst for yield.