HSBC

Deutsche Bank is at real risk of failing to pay coupons on its additional tier one instruments, as a potential $14bn US RMBS settlement threatens to erase the bank's available distributable items (ADIs). Outstanding DB AT1 securities reacted accordingly last Friday, shooting nearly 200bp wider.

Bayer clinched a $66bn agreement to buy Monsanto this week, forming a global leader in farming technology and promising a shower of capital markets transactions that will test debt and equity markets — but may also delight them.

Rating: Aaa/AAA

With additional tier one (AT1) issuance volumes at record lows, yield-strapped investors are so thirsty for new paper that cash prices have remained steady throughout the week’s volatility.

Shares in Informa, the UK publishing and events company, closed 6% higher on Thursday after it launched a fully underwritten £715m rights issue to partially finance its £1.18bn takeover of Penton, the New York-based information services and business-to-business publisher, in a transatlantic deal which the company says will expand its reach in the global exhibitions industry.

HSBC has named Jackson Tai, the former Asia Pacific chairman of JP Morgan and chief executive officer of DBS, as an independent non-executive director of its board.

Postal Savings Bank of China and its potential HK$62.7bn ($8.1bn) IPO got off to a roaring start due to hedge fund demand. Oversubscribed on day one, it is on track to be the world’s largest IPO in two years. But an order book so far dominated by regional names is about to get a lot more global as management leaves Hong Kong for roadshows in the UK and US. Jonathan Breen reports.

Hon Hai Precision Industry sealed $1bn from a dual-tranche offering, seizing what is thought to be the last good window before the Fed’s decision on a September rate hike.

State Bank of India (SBI) succeeded in pricing the first offshore Basel III additional tier one (AT1) offering from an Indian name this week, but a bullish pricing strategy meant orders were muted and it has struggled in secondary. Despite the glitches, many believe the deal has set an important benchmark, writes Addison Gong.

Winsconsin’s Spectrum Brands, the consumer products conglomerate ended a two day roadshow on Wednesday with the sale of euro notes that will repay dollar bonds, an uncommon transaction in the euro market.

UK supermarket chain WM Morrison Supermarkets, better known as Morrison’s, has triggered an extension option on its £1.35bn revolving credit facility.

Biffa, the UK waste management company, has announced its intention to float on the London Stock Exchange.