Citigroup, Deutsche Bank, HVB and Royal Bank of Scotland have scooped the mandate to run a €1bn ($1.17bn) bond issue to fund European tourism company Tui's $2bn acquisition of container shipping company, CP Ships.

A banker close to the deal said the €1bn bond is likely to comprise around €700m of senior bonds and €300m of hybrid bonds, the closest form of debt to equity. The issue is expected in the next few weeks.

Jonathan  Sibun

Citigroup

Deutsche Bank

Commerzbank

Royal Bank of Scotland

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The Davos founder rejected preliminary findings of misconduct, including improper travel expenses and gifts.

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