BNP Paribas

The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.

A trio of firsts are coming to the high grade corporate bond market this week, with a debut hybrid from Italian oil and gas firm Eni, a green first for French chemicals company Arkema and a postponed entry to the Eurobond market for Danish pharmaceutical firm Lundbeck.

Argenta Spaarbank announced plans for a new non-preferred senior deal on Monday, as it looks to take advantage of the supportive tone set by other rare borrowers last week.

Debt capital markets bankers say that smaller pricing steps are possible when selling deals on a yield basis, after bookrunners made a 7.5bp move with National Bank of Greece’s green deal this week.

A record month for US mergers and acquisitions will fail to boost the dollar corporate bond market, as bankers predict a sharp slowdown in activity in the fourth quarter.

The sustainability-linked debt structure, which has already spread from the loan market to corporate bonds, has made its first appearance in a convertible bond, with a deal by Dürr. CB specialists expect it will take root in that asset class too. Jon Hay and Aidan Gregory report.

Two borrowers visited the long end of the dollar curve this week and while both completed their deals successfully, investors clearly displayed more appetite for the higher yielding of the pair.

Hungarian oil and gas company Mol on Thursday raised a seven year bond in euros.

National Bank of Greece (NBG) has become the lowest rated bank to issue green debt, after winning two times as much demand as it needed for a €500m senior bond on Thursday. The trade formed part of a flurry of green issuance in the FIG market, alongside new deals from Banque Fédérative du Crédit Mutuel and Mizuho Financial Group.

Eureden, a French food co-operative, has signed about €550m of sustainability linked loans, with part of the money earmarked for acquisitions.

Europe’s high grade primary market chugged on with a handful of trades on Wednesday, but syndicate bankers acknowledge that supply looks to be muted in what should usually be a hectic period.

National Bank of Greece (NBG) is set to become the first Greek financial institution to issue a green bond, after announcing plans for a new green senior deal on Wednesday.