BNP Paribas

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.

Deal arrangers expect that next week will be the last real window for issuance in 2020, with investors set to close down activity from the middle of December.

Ford Automotive Finance (China), Dongfeng Nissan Auto Finance Co and domestic Chinese originator BYD Auto Finance Co competed head-to-head in the onshore auto loan asset backed securities market this week, but a strategy of targeting different investors helped bankers manage the competing supply, Addison Gong reports.

Two public sector borrowers hit the euro bond market on Wednesday, raising what might well be the final benchmark funding of 2020.

Investors pumped €11.65bn of orders into €1.6bn of green and sustainable corporate bonds on Wednesday when paper company Stora Enso, utility Fluvius and real estate firm Cofinimmo all built bulging order books.

Shopping mall operator Unibail-Rodamco-Westfield priced a €2bn dual tranche bond from €7.2bn of demand on Wednesday, after fixed income investors were left unfazed by its shareholders blocking a rights issue earlier this month.

Investors were delighted to add more exposure to Macquarie Group on Wednesday, after the Australian issuer returned to euros for its second senior deal of the year.

The allocation of Indonesian instant noodle maker Indofood CBP Sukses Makmur’s $2.05bn-equivalent acquisition loan has been finalised, after the lead banks closed the syndication earlier this month.