KfW Sells First Bonds Denominated in Thai Baht to Attract Asian Investors

(Bloomberg) -- KfW Group, the German government-
owned finance agency, sold its first bonds in Thai baht to
attract new investors in Asia.

Deutsche Bank AG arranged the sale of 3 billion baht ($100.8
million) of the three-year bonds to Thai pension funds, insurance
companies and banks, according to a press statement from KfW in
Frankfurt.


Read more at Bloomberg Bonds News

Corporate Bond Risk Decreases as Investors Reduce Bets on Subprime Rout

(Bloomberg) -- The risk of owning corporate bonds
fell in Europe and the U.S. as investors pared bets that credit
quality will deteriorate further because of the subprime
mortgage rout, according to traders of credit-default swaps.

Contracts on 10 million euros ($13 million) of debt
included in the iTraxx Crossover Series 7 Index of 50 European
companies dropped 13,000 euros to 354,000 euros in London,
according to Deutsche Bank AG. The index was at 180,000 euros at
the start of June. The CDX North America Investment Grade Index
dropped $1,250 to $53,750 in New York, Deutsche Bank said.


Read more at Bloomberg Bonds News

SSAB prices Ipsco buy rights issue at 155 SEK/share

(Reuters) - The firm said existing shareholders had said they would take
up around 25 percent of the issue. The total size of the issue
had been previously announced.




Underwriter Deutsche Bank has subscribed for shares not
taken up by shareholders or other investors.


Read more at Reuters.com Mergers News

InterGen prices $1.875 bln high-yield bonds -source

(Reuters) - The size of the deal was reduced by $100 million, yields on
offer raised and pricing delayed from last week to Monday due to
the turmoil in the credit markets, where the benchmark Crossover
credit default swap index has risen 80 basis points in the last
week to 350 basis points.




Merrill Lynch, Lehman Brothers, Deutsche Bank and Barclays
Capital are managing the bond sale for InterGen, which has nine
power plants with 5,235 megawatts of capacity in five countries.


Read more at Reuters.com Bonds News

FTSE 100 Slides, Led by Cable & Wireless, Sage Group; Kingfisher Climbs

(Bloomberg) -- U.K. stocks fell, paced by Cable &
Wireless Plc and Sage Group Plc.

Friends Provident Plc advanced on takeover speculation.
Kingfisher Plc increased after Deutsche Bank AG raised its
recommendation on shares of Europe's biggest home-improvement
retailer.


Read more at Bloomberg Stocks News

U.K. FTSE 100 Benchmark Declines, Paced by BHP; Rolls-Royce, Kelda Slip

(Bloomberg) -- U.K. stocks fell for a second day,
paced by BHP Billiton Ltd. after Deutsche Bank AG downgraded the
shares and metal prices retreated. Anglo American Plc and
Antofagasta Plc also declined.

Rolls-Royce Group Plc, Kelda Group Plc and Schroders Plc
slid as brokerages lowered their recommendations for the
companies' stocks. Reed Elsevier Plc dropped after it agreed to
sell Harcourt Education for $4 billion.


Read more at Bloomberg Stocks News

European Stocks Fall for First Time in Four Days; Total, BHP Pace Declines

(Bloomberg) -- European stocks dropped for the first
time in four days, led by oil companies after ING Groep NV cut its
recommendation on shares of Repsol YPF, Statoil ASA and Total SA.

BHP Billiton Ltd., the world's biggest mining company,
dropped after Deutsche Bank AG downgraded the stock. Tate & Lyle
Plc, the maker of the sweetener Splenda, climbed after Goldman,
Sachs & Co. advised investors to buy the shares.


Read more at Bloomberg Stocks News

Spartech says CEO quits, cuts profit view; shares fall

(Reuters) - "Abd, CEO since May 2005, was the architect and driving force behind the company's recent structural changes and operational improvements," Deutsche Bank analyst David Begleiter said in a research note to clients on Monday.




Shares of the company fell more than 20 percent, or $5.52, to $21.80 in midday trade, making them the highest percentage loser on the New York Stock Exchange on more than four times the 10-day moving average volume, according to Reuters data.


Read more at Reuters.com Hot Stocks News

Pound Rally Fools Biggest Traders as Rising Bond Yields Lure Kokusai, Axa

(Bloomberg) -- Investors who listened to the world's
three biggest currency traders and bet against the pound this
year couldn't have been more wrong.

Instead of falling, the U.K. currency has risen 3.8 percent
to a 26-year high of $2.0367. Strategists at Frankfurt-based
Deutsche Bank AG, UBS AG in Zurich and Citigroup Inc. of New York
predicted in December it would trade at $1.96 or lower this year.


Read more at Bloomberg Currencies News

Germany's DAX Index Climbs to Record, Led by Shares of BASF, Allianz

(Bloomberg) -- German stocks advanced, led by BASF
AG, Allianz SE and Deutsche Bank AG.

The benchmark DAX Index rose 83.97, or 1 percent, to a
record 8137.40 as of 9:10 a.m. in Frankfurt. The HDAX Index of
the country's 110 biggest companies climbed 1 percent.


Read more at Bloomberg Stocks News

Japan Stocks Fall, Reversing Earlier Advances; Nomura Holdings Leads Drop

(Bloomberg) -- Japan's Topix index dropped, led by
brokerages including Nomura Holdings Inc. after Deutsche Bank AG
lowered its stock price forecast, citing possible valuation
losses related to subprime loans.

Some exporters advanced after the yen declined against the
dollar and euro in New York. Fanuc Ltd. and Canon Inc. led gains.


Read more at Bloomberg Stocks News

LBO Credit Quality Declines to Nine-Month Low in Europe, Derivatives Show

(Bloomberg) -- Loans used to finance leveraged
buyouts are the riskiest in at least nine months on speculation
that losses on subprime mortgage securities will spread to other
markets, according to traders of credit-default swaps.

The iTraxx LevX Index of credit-default swaps on loans to
35 European companies fell as much as 1 percent to the lowest
since the index started last October, according to Deutsche Bank
AG prices. The LCDX index of loans to 100 U.S. companies dropped
as much as 0.57 percent to 96, Phoenix Partners Group in New
York said.


Read more at Bloomberg Bonds News

PKN postpones bond issue on volatile market -lead

(Reuters) - The iTraxx Crossover index , a barometer of
European credit market sentiment, has widened sharply throughout
Tuesday's trading session, and was 22 basis points wider by 1319
GMT at 268 basis points, according to prices from Deutsche Bank.




ABN AMRO, BNP Paribas, Citigroup and SG CIB are managing the
PKN Orlen bond sale.


Read more at Reuters.com Bonds News

Rio Tinto said to be eyeing Alcan/Alcoa deal

(Reuters) - Rio has asked investment banks Credit Suisse and Deutsche Bank to advise it on a range of options, including a possible bid for Alcan, the sources said. A bid for Alcoa is also possible but less likely, they added.




Rio declined to comment, as did Credit Suisse. A spokesman for Deutsche Bank could not be reached.


Read more at Reuters.com Mergers News

Treasuries Decline Most in More Than a Week as Demand for Risk Stabilizes

(Bloomberg) -- Treasuries declined the most in more
than a week as a drop in a measure of the perceived risk of
owning U.S. corporate bonds reduced demand for the safety of
government debt.

The CDX North America Crossover Index, made up of the debt
of 35 companies, fell for the first time in five days after
rising to a 10-month high yesterday, according to Deutsche Bank
AG.


Read more at Bloomberg Bonds News

Clayton sells food firm Brakes to Bain Capital

(Reuters) - Clayton said in a statement on Friday that Brakes had seen
its turnover grow by 14 percent and its operating profit by
close to 70 percent over the last five years.




Investment banks JP Morgan and Deutsche Bank advised Clayton
on the deal.


Read more at Reuters.com Mergers News

European Stocks Rise, Led by Energy, Mining Shares; BP, BHP, Nestle Gain

(Bloomberg) -- European stocks rose for the first time
in six days as higher commodity prices lifted energy and mining
companies and Citigroup Inc. said shares in the region are cheap.

BP Plc, Europe's second-biggest oil producer, and BHP
Billiton Ltd., the world's largest mining company, advanced.
Nestle SA increased after Deutsche Bank AG recommended buying
stock in the food company. Groupe Danone rose on a report the
yogurt maker will likely sell its LU cookies division.


Read more at Bloomberg Stocks News

European stocks end up on insurers, DAX hits record

(Reuters) - European shares ended higher on Wednesday as merger and acquisition talk surrounding insurers and banks helped markets pare losses struck in the past two sessions and Germany's 30 share DAX hit a record close.

Allianz rose for the fifth day in a row, with the day's 2 percent gain stoked by a report in a German stock market newsletter that Deutsche Bank was in talks to buy the retail operations of the insurer's Dresdner Bank unit.


Read more at Reuters Africa

British Airways Credit-Default Swaps Fall to Record Low on Ratings Upgrade

(Bloomberg) -- British Airways Plc credit-default
swaps fell to a record low after Standard & Poor's lifted its
debt ratings on Europe's third-largest airline to investment
grade for the first time in four years.

Contracts based on 10 million euros ($13 million) of
British Airways debt fell 18,000 euros to 59,500 euros,
according to Deutsche Bank AG. It was the biggest one-day drop
in more than four years for the contracts, which are used to
speculate on a company's ability to repay debts. A decline
indicates improved perceptions of credit quality.


Read more at Bloomberg Bonds News

EL Paso Corp sells $1.275 million in 2 part - source

(Reuters) - Deutsche Bank Securities, Citigroup Global Markets, Morgan
Stanley and RBS Greenwich Capital were the joint lead managers
of the sale.




Read more at Reuters.com Bonds News