Goldman Sachs

Having remained doggedly committed to its trading businesses throughout an extended period of low volatility, Goldman reaped the rewards this quarter, with revenues from fixed income, currencies and commodities jumping 74% to $2.17bn.

UK car breakdown recovery firm RAC set out price guidance on its £1.25bn loan at a London bank meeting on Thursday.

Conduct charges defined third quarter results at Bank of America, while Citi and JP Morgan also saw their numbers marred by litigation provisions or conduct failings. Only Goldman, of the first crop of US investment banks reporting this week, largely escaped a blow from past misdeeds.

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The European Stability Mechanism is the only sovereign, supranational or agency lined up to syndicate in euros next week — and it will do so in very different conditions to the last time it printed. Volatility that some bankers said they had not seen since 2009 or 2010 hit markets in the second half of this week — meaning KfW could not have timed things better by coming with a deal on Tuesday.

UK car breakdown recovery firm RAC marketed its £1.25bn recapitalisation and refinancing loan to lenders on Thursday, signalling that the leveraged loan market is battered but still functioning.

A grim secondary performance by Goldman Sachs’s debut sukuk has turned the deal into a ready weapon for anyone holding that the Islamic market is not ready for such non-halal borrowers. But despite the performance, Goldman's sukuk will be remembered as the issue that shook the market purists' defences.

Goldman Sachs has not given up on its Fixed Income Global Structured Covered Obligation (Figsco). The market has moved in Goldman’s favour since the deal was first announced, despite the bad publicity around the trade.

Asian insurers are making their presence felt in the international debt market after Korean Reinsurance (Korean Re) became the fourth name to issue a bond in six weeks. While market participants are quick to point out that the deals are unrelated, they predict more is coming from the sector as Asia makes the step up to Solvency II, write Virginia Furness and Rev Hui.

Four shareholders, including private equity firm CVC Capital Partners and cable operator First Media, are in the market to sell Rph8.15tr ($668m) worth of shares in Link Net, in what could be Indonesia’s largest equity transaction of the year.

Hua Hong Semiconductor has raised HK$2.57bn ($332m) from its Hong Kong IPO, in a deal that saw the shares price close to the bottom of the range.

Tentative allocations are out for smartphone maker Xiaomi’s $1bn dual tranche loan. The deal has proved popular as bankers are eager to lend to the company that has ambitious plans for global expansion.