Banks

UK stationery retailer Paperchase has submitted a notice of intent to appoint administrators, as it struggles to cope with the effects of lockdowns and disruption to Christmas sales.

Damien Loynes' syndicate responsibilities at Crédit Agricole have been expanded.

The run-off for the final two seats in the US Senate was nearing its close on Wednesday and it looks likely that Democrats will secure both, granting the party a majority in both houses of Congress. The race has caused a spike in US Treasury yields, lending Wednesday’s SSA borrowers a big boost.

The European Investment Bank announced its first euro benchmark of the year on Wednesday, looking to take advantage of a super strong backdrop and avoid an expected heavy pipeline of supply next week.

Europe’s primary equity-linked market has reopened for 2021, with a debut €200m green convertible bond issued by Voltalia, the French renewable energy company.

State Bank of India successfully raised $600m with a bond issue underwritten by leading investment banks on Wednesday, just weeks after big investors divested from its green bonds because of its apparent intention to finance the controversial Carmichael coal mine being developed in Australia.

Komerční banka (KB), a partially owned subsidiary of Société Générale, has mandated leads for the first fully distributed euro benchmark covered bond from the Czech Republic, paving the way for other major lenders to follow suit.

MUFG has given Darryl D’Souza a new position under Matteo Ferrario, where he will lead part of the bank's strategy for financial institutions.

BNP Paribas offered investors their first chance to pick up sterling paper from a financial institution this year, printing 10 year paper on Wednesday at a cheap level compared to its outstanding euro and sterling curves.

After a dismally quiet year of issuance in 2020, bankers are convinced that sub-Saharan African bond volumes will make a strong recovery. The Republic of Benin is sounding out investors for a euro-denominated offering, its second foray into the market since its debut two years ago.

François Marion has left his position as deputy chief executive of Crédit Agricole's corporate and investment bank, and the bank has reshuffled titles — giving new roles to Pierre Gay and Didier Gaffinel, among others.

Toby Croasdell has been appointed global head of MTNs, private placements and commercial paper at Crédit Agricole, following the promotion of previous head Benjamin Lamberg last month.