BNP Paribas

BNP Paribas was nearly seven times subscribed for a long call additional tier one (AT1) this week — in its third dollar deal of the year.

Hennes & Mauritz, the Swedish clothing retailer, earned blowout demand for its sustainability-linked debut bond, but bankers off the trade said on Thursday that the exuberance was indicative of just how far capital markets have strayed from reality.

Rating: Baa1/BBB/BBB-

This week was the busiest of the year so far for bank senior supply in euros, as issuers took advantage of strong market conditions after posting full year results.

H&M, the Swedish clothing retail company, has received blowout demand for its debut bond, as the “perfect storm” of ESG criteria and European Central Bank rule changes to allow it to buy sustainability-linked bonds saw the order book bulge to almost 11 times subscribed at guidance.

If you want to be Europe’s leading global investment bank, you've got to have a leading role in the UK, the region's biggest fee pool. And that means having a strong corporate broking platform, writes David Rothnie.

Intesa Sanpaolo launched a long awaited debut senior non-preferred deal on Wednesday. After having announced a large non-preferred funding programme last year, the bank has reduced its funding needs thanks to regulatory changes.

Hamburger Hochbahn, the city public transport operator, made its bond market debut on Wednesday, slotting into the market neatly with a €500m 10 year green bond and a €3bn order book.

Participants in Europe’s high grade bond market have been left scratching their heads about the performance of a Becton Dickinson €600m 15 year bond since it was issued last week. The spread has come hurtling in by 20bp, despite bankers away from the deal saying they would probably have valued it similarly to the leads.

Hennes & Mauritz, the Swedish clothing retailer, has chosen to issue its first ever bond in the novel sustainability-linked format.

Hamburger Hochbahn, a government owned public transport operator in Hamburg, is set to make its bond market debut this week, launching itself as a regular bond issuer.

Nykredit Realkredit opted to tap the seven year point of the curve on Monday as it issued senior non-preferred debt ahead of a deadline for regulatory debt buffers in 2022.