Oil Rises Above $78, Nearing Record as U.S. Refiners May Boost Operations

(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production.

Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.


Read more at Bloomberg Energy News

RLPC-UPDATE 1-Integra Telecom reduces 1st-lien loan, delays deal

(Reuters) - The first-lien loan is part of Integra Telecom's $1.25
billion acquisition financing. The company is implementing a
number of changes to the deal in order to make the overall
financing attractive to lenders.




The financing is led by Deutsche Bank, Morgan Stanley and
CIBC World Markets and backs the acquisition of Eschelon
Telecom .


Read more at Reuters.com Bonds News

Credit Suisse Fees Are Likely to Fall Most as LBO Market Slows, S&P Says

(Bloomberg) -- Investment banking fees are likely to
fall or stop growing as buyout firms purchase fewer companies,
and Credit Suisse Group would probably be the most affected
Standard & Poor's said in a report published today.

Group revenue at Switzerland's second-largest bank could
fall by 3.8 percent were leveraged buyout fees to fall by half,
S&P said. Earnings at Credit Suisse and UBS AG could plunge up to
19 percent as buyouts slow, Deutsche Bank AG analyst Matt Spick
said on July 26.


Read more at Bloomberg Currencies News

Credit Suisse Fees to Fall the Most as LBOs Slow, Standard & Poor's Says

(Bloomberg) -- Investment banking fees are likely to
fall or stop growing as buyout firms purchase fewer companies,
and Credit Suisse Group would probably be the most affected
Standard & Poor's said in a report published today.

Group revenue at Switzerland's second-largest bank could
fall by 3.8 percent were leveraged buyout fees to fall by half,
S&P said. Earnings at Credit Suisse and UBS AG could plunge up to
19 percent as buyouts slow, Deutsche Bank AG analyst Matt Spick
said on July 26.


Read more at Bloomberg Bonds News

German Stocks Decline, Led by Deutsche Bank, Allianz; Volkswagen Rises

(Bloomberg) -- Germany's benchmark DAX Index
dropped for a fourth day, paced by Deutsche Bank AG,
Commerzbank AG and Allianz SE, on mounting concern financing
difficulties may cloud the outlook for mergers and takeovers.

Volkswagen AG advanced after the carmaker's first-half
profit beat analysts' expectations. Siemens AG also climbed.


Read more at Bloomberg Stocks News

KKR's Banks Postpone Alliance Boots LBO Loans Until Next Week, Banker Says

(Bloomberg) -- Kohlberg Kravis Roberts & Co.'s
banks postponed a deadline to finance the buyout of Alliance
Boots Plc after failing to raise enough demand for the 9 billion
pounds ($18.5 billion) of loans, said a banker involved.

KKR and lenders led by Deutsche Bank AG started offering
the debt to investors three weeks ago and had asked them to
commit no later than today. The underwriting banks are now
giving potential investors until next week to join the loan with
the extra time designed to boost participation, said the banker
on the deal, who declined to be identified because the
discussions are private.


Read more at Bloomberg Bonds News

Alliance Boots changing terms on LBO loans: bank

(Reuters) - It is hoped that further details on the loan package will be released on Monday, the spokeswoman said.




Deutsche Bank, JP Morgan and UniCredit HVB are global coordinators for the debt backing the buyout, Europe's largest ever private equity deal and the first of a FTSE 100 company.


Read more at Reuters.com Bonds News

Vietnam Hires Barclays, Citigroup, Deutsche Bank for $1 Billion Bond Sale

(Bloomberg) -- Vietnam chose Barclays Capital,
Citigroup Inc. and Deutsche Bank AG to manage its second
international bond sale, said Nguyen Thanh Do, director of the
finance ministry's external financing department.

The ministry said in May that the government plans a $1
billion bond sale by September. Vietnam sold $750 million worth
of dollar-denominated debt in 2005, in an offering where demand
exceeded supply by six times. Credit Suisse Group arranged the
sale.


Read more at Bloomberg Bonds News

European Stocks Fall for First Time in Four Days; BG, Deutsche Bank Drop

(Bloomberg) -- European stocks dropped for the first
time in four days after analysts downgraded oil companies and a
decline in metal prices pushed mining shares lower.

BG Group Plc and Statoil ASA paced a retreat in energy stocks
after a brokerage recommended selling the shares. Anglo American
Plc and Antofagasta Plc followed copper and nickel prices lower.
Deutsche Bank AG and Allianz AG led declines by financial stocks
before a report on U.S. producer prices that may provide clues
about inflation and the outlook for rates.


Read more at Bloomberg 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

JPMorgan, Lehman Brothers Lead Fixed-Income Market, Greenwich Study Says

(Bloomberg) -- JPMorgan Chase & Co. and Lehman
Brothers Holdings Inc. tied for first place among fixed-income
dealers in 2007 based on market share and service quality,
according to a Greenwich Associates study.

This year marks the first time Greenwich published the
results of its fixed-income survey. Deutsche Bank AG, Goldman
Sachs Group Inc. and Banc of America Securities LLC rounded out
the top five firms, the report said.


Read more at Bloomberg Bonds 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

Treasuries Are Little Changed as Stocks Rally in Europe, U.K. and Japan

(Bloomberg) -- Treasuries were little changed as
stock markets in the U.K., Germany and Japan rallied.

Benchmark 10-year U.S. note yields fell yesterday below 5
percent for the first time in more than three weeks on concern
over weakness in the subprime mortgage sector and terror
threats. Deutsche Bank AG said in a research note that U.S. and
European bonds are expensive relative to share prices.


Read more at Bloomberg Bonds News

Hungarian Stocks Lead Declines in Central Europe: World's Biggest Mover

(Bloomberg) -- Hungary's benchmark index fell from
a record, pacing declines in central European stock markets.

Mol Nyrt. tumbled after Deutsche Bank AG recommended
selling the stock and Hungary's prime minister said he will
fight a takeover of the country's largest oil company.


Read more at Bloomberg Stocks News

Corporate Bond Risk in Europe at Three-Month High on Subprime Risk Concern

(Bloomberg) -- The risk of owning European
corporate bonds rose to the highest in almost three months amid
concern hedge-fund losses in the U.S. subprime mortgage market
may snowball, 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 jumped 11,500 euros to 228,000 euros, the highest
since April 2, according to Deutsche Bank AG. The rising cost of
credit-default swaps, contracts based on bonds and loans,
indicates deteriorating credit quality.


Read more at Bloomberg Bonds News

European Stocks Fall; Deutsche Bank, France Telecom, Anglo American Drop

(Bloomberg) -- European stocks declined for a third
day, led by financial shares and insurers, after the Bank for
International Settlements said central banks will need to keep
raising interest rates to quell inflation.

Deutsche Bank AG, Germany's largest bank, and insurer Axa SA
paced the drop. France Telecom SA fell the most in two weeks as
the French government is selling shares worth about 2.7 billion
euros ($3.6 billion). Anglo American Plc and Antofagasta Plc led
mining companies lower after Cazenove downgraded the stocks.


Read more at Bloomberg Stocks News

European Stocks Decline on Ifo Report; BHP Billiton, Julius Baer Slide

(Bloomberg) -- European stocks dropped for a second
day after German business confidence fell more than economists
forecast in June, adding to signs that growth in Europe's largest
economy may slow.

BHP Billiton Ltd. led mining shares lower on concern China
will raise interest rates to cool the economy. Julius Baer
Holding AG declined the most in a year after UBS AG sold part of
its stake in the Swiss Bank, thwarting takeover speculation.
Deutsche Bank AG and Barclays Plc led a decline by banks on
concern that losses in the U.S. mortgage market may grow.


Read more at Bloomberg Stocks News

Deutsche Bank Hires ABN Amro's Debt Syndication Head in Asia, People Say

(Bloomberg) -- Deutsche Bank AG hired Herman van den
Wall Bake from ABN Amro Holding NV as the German bank increases
its market share in Asia, according to two people with knowledge
of the matter.

The former head of Asian debt syndication at ABN Amro will
join the region's leading bond underwriter as a director, the
people said, asking not to be named before a company announcement.
Singapore-based van den Wall Bake, 37, will report to Mark Leahy,
Deutsche Bank's head of Asian debt syndication.


Read more at Bloomberg Bonds News

Housewives Outmaneuver UBS, Deutsche Bank as Yen Trading Captivates Japan

(Bloomberg) -- Japanese businessmen, housewives and
pensioners betting against the yen in their spare time are
wrecking the forecasts of the world's biggest currency traders.

The yen has slumped 4.6 percent to a 4 1/2-year low against
the dollar this quarter, making it the worst performer among 72
major currencies and confounding predictions by strategists at
Deutsche Bank AG and UBS AG for gains of about 1 percent.


Read more at Bloomberg Currencies News

UPDATE1-Pros Holdings sees IPO priced at $10-$12/shr

(Reuters) - JPMorgan, Deutsche Bank Securities, Jefferies & Company and
Thomas Weisel Partners LLC will underwrite the IPO, according
to the filing.




The selling stockholders have granted the underwriters an
option to purchase up to an additional 1.02 million shares.


Read more at Reuters.com Government Filings News