BNP Paribas

Opportunistic corporate issuers had a strong day of it on Wednesday in Europe's bond market, increasing deal sizes and enjoying bulging order books as investors turned positive on the outlook for the market.

Turkey's largest city, the Istanbul Metropolitan Municipality, hit markets on Wednesday, seeking to raise dollars in a rare debt-raise. The deal is one of three major bonds from Turkish issuers in the last week.

Four Chinese borrowers hit the dollar bond market on Tuesday, raising $745m between them.

BP, the oil major, was joined at the long end of the bond market on Tuesday by railway company Deutsche Bahn, as issuers take advantage of low spreads to stretch out their debt maturities.

Italian SME lender Illimity Bank is getting ready to sell its first senior bond by asking investors what sort of a price they would want to pay for the single B rated paper.

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.