DEUTSCHE BANK AG
Shapoorji Pallonji taps Deutsche Bank, DAM Capital to raise Rs 3,000 crore from private credit funds
Shapoorji Pallonji Group aims to raise Rs 3,000 crore via Deutsche Bank and DAM Capital to refinance debt from Ares SSG Capital and Farallon, reducing 18-22% rates. Supported by a Rs 15,000 crore Power Finance Corporation loan and Gopalpur port sale to Adani Group, the group plans a Rs 7,000 crore Afcons Infrastructure IPO, exploring global funds.
Wall Street bankers beaten in ‘Smartest’ chess tournament
William Graif, a chess enthusiast, has competed in various countries and now focuses on teaching chess to children after participating in the World Corporate Chess Championship.
India’s near-8% growth gives Modi a boost as elections end
India is expected to report close to 8% economic growth for the fiscal year ending in March, boosting Prime Minister Modi’s government as elections conclude. The growth in the first three months is predicted to be 7%, with the full year reaching 7.9%. The quarterly GDP release is eagerly awaited.
European shares rise on energy boost, rate-cut hopes
European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
Citigroup's new big hire is a no nonsense, hard-charging dealmaker
Viswas Raghavan, a competitive and ambitious dealmaker, has been hired by Citigroup CEO Jane Fraser to lead the struggling Wall Street operation. Raghavan will oversee the advisory, capital markets, corporate, and commercial banking businesses amid a decline in revenues and dealmaking.
IPO Watch: Protean well placed to benefit from growth in digital public infrastructure
Originally set up as a depository in 1995, the company has a an extensive experience in digital public infrastructure including creation of Tax Information Network (TIN), Permanent Account Number (PAN) issuance and verification, services related to Atal Pension Yojana (APY) and NPS, and e-KYC services.
Adani Green is in talks to borrow a $1.8 billion loan
Adani Green Energy, the renewable energy company owned by Indian billionaire Gautam Adani, is reportedly in discussions with a consortium of foreign lenders to secure a loan of up to $1.8 billion. Sources familiar with the matter have indicated that the funds from this loan will be earmarked for the expansion of Adani Green Energy's solar and wind energy projects.
ACC-Ambuja Cement acquisition: Adani signs agreement to refinance $3.5 billion loan
Gautam Adani-led Adani Group has signed an agreement to refinance $3.5 billion of loans taken to acquire ACC Ltd and Ambuja Cement. The refinancing program was concluded with international banks such as DBS Bank, First Abu Dhabi Bank, Mizuho Bank, and MUFG Bank. This move is expected to save the conglomerate's cement vertical around $300 million.
Asian shares rally as markets wager on Fed pivot; US inflation in focus
The recent buoyancy in sentiment also owe much to comments from more Fed officials suggesting rates there may have peaked, which triggered a welcoming pullback in Treasury yields.
Deutsche Bank seeks to boost Asia financing unit with new roles
Deutsche Bank AG is seeking to bolster its financing business in Asia and is creating new roles in its efforts to boost revenue in the region. Deutsche Bank is also working with a search firm to hire more people for financing roles in the region, the news agency reported citing sources
The great M&A slump is shaking up giants of investment banking
Top investment bankers across the industry have been leaving big banks such as Goldman Sachs and Credit Suisse to join smaller rivals. The heightened departures come as hedge funds have cut large portions of their trading commissions. While large banks struggle from economic struggles, global political tensions and low revenue, lower-ranked banks like Deutsche Bank and Santander are seeing a chance to poach top talent.
Volkswagen's efforts to boost valuation stifled by lack of succession plan
The market needs to know who will take over when the octogenerian heads of its controlling shareholder - the Porsche-Piech family clan - retire, according to Deka, Union Investment and DWS, three of the carmaker's top 20 shareholders. The company plans to run a series of capital market days in coming months for each of its brands, which it hopes will boost a valuation in freefall since mid-2021.
Delayed monsoon can impact inflation; expect FY24 CPI at 5.2 per cent: Deutsche Bank
Deutsche Bank has warned that India cannot be complacent about inflation even though official data for May has shown a cool-off. The bank expects the average Consumer Price Inflation (CPI) for FY24 to reach 5.2%, compared with the 5.1% estimated by the Reserve Bank of India and the consensus of 5% for analysts. With monsoon rains currently 53% below normal and poor monsoon potentially driving up food prices in July, there is a chance headline inflation could rise above 5%, the bank said.
Adani Group in talks for first major debt refinancing after Hindenburg
Adani Group is in talks with several lenders, including global banks, to refinance a loan facility of up to $3.8bn it had taken for its Ambuja Cements acquisition last year. The Indian conglomerate may convert the original loan into debt with a longer maturity period and has started discussing the plan with banks privately.
UBS sends Iqbal Khan to stem Credit Suisse’s private banker exits; vows retention packages for Asia staff
Khan signaled during his Asia trip that relationship managers should stick around until the merger closes because UBS would be willing to offer incentives and retention packages in the future, the people said. His retention offers aren’t formal, and are part of UBS’s efforts to boost staff morale at Credit Suisse
Credit Suisse faces crucial weekend with its future in balance
Swiss regulators are encouraging UBS and Credit Suisse to merge, one source with knowledge of the matter said, but added that both banks did not want to do so. The regulators do not have the power to force the merger, the person said. The boards of UBS and Credit Suisse were also expected to separately meet over the weekend, the Financial Times said.
UBS to explore Credit Suisse deal in crisis combination
Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. Credit Suisse, a 167-year-old bank, is the biggest name ensnared by market turmoil unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank over the past week, forcing it to tap $54 billion in central bank funding.
Adani Group hires banks to hold fixed-income investor calls
Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, Emirates NBD Capital, ING Groep N.V., MUFG, Mizuho, SMBC Nikko and Standard Chartered Bank are organizing the calls
Credit Suisse CEO fights on all Fronts as he faces lost year
Credit Suisse lost an unprecedented 111 billion Swiss francs ($120 billion) worth of assets during the three final months of last year, most of which departed in the run-up to the big strategy announcement on October 27.
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