BNP Paribas

Top tier Turkish lender VakifBank was in the market on Tuesday for its debut sustainable dollar bond, which market participants say is likely to gain strong demand from a wide investor base.

The UK’s SSE Renewables and Norway’s Equinor, two energy companies, have signed what lenders say is the largest ever offshore wind project financing, a £5.5bn package for a wind farm off the UK coast.

Home appliance retailer Vesync has started pre-deal investor education for its Hong Kong IPO, which is expected to raise around $200m, according to a source close to the deal.

Genius Auto Finance Co, a joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, is readying a Rmb4.04bn ($614m) Generation 2020-4 retail auto loan securitization. Pricing is expected later this week.

The Executive Centre, the Hong Kong-based co-working space operator, has relaunched its $180m five year loan after suspending syndication earlier this year owing to the outbreak of Covid-19.

BP, the UK oil major, and car rental company Sixt have hired banks for new bonds as the end of year issuance window looks set to stretch into next month.

Snam, the Italian gas network company, has reinvigorated the transition bond market, servicing investors unable to buy sustainability-linked bonds.

The Istanbul Metropolitan Municipality, Turkey’s largest city, and VakifBank have both mandated banks to arrange dollar bond syndications. The trades come just days after the sovereign squeezed into the market before the US Thanksgiving holiday to raise a tightly priced dollar bond.

Market participants expect a sluggish start to the week but are hopeful that a favourable window might tempt a few names to bring deals forward. Up first is Crédit Agricole, which is preparing to make its first foray on to the social bond circuit.

Electrocomponents, a UK electrical and industrial supplies company, has signed a £300m revolving credit facility, increasing the size of the facility being replaced as access to liquidity remains many companies' key consideration.

French hotels group Accor this week became the latest issuer to tap the convertible bond market for financing in the wake of the rally in value stocks following positive Covid vaccine news in early November.

Hera, the Italian utility, had the market to itself on Thursday, as corporate bond supply fell. But syndicate desks were split over whether this week’s roaring demand could encourage other opportunistic issuers to the market well into December.