BNP Paribas
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Bank of China rolled out a dual-currency blue bond on Monday, making it the first borrower in Asia to market a marine sustainability transaction. -
Voluntary efforts could bring about a global market in trading carbon offsets, even before there is a statutory basis for this, according to the leader of a new taskforce launched by Mark Carney, former governor of the Bank of England.
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BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi has offered to buy €2.5bn of the shares he doesn't already own to take the French telecoms group private.
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Ford, the US car maker, offered investment grade bond investors a chance to dip into high yield on Tuesday. And its rival, Nissan Motor, is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.
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Issuance in Europe’s high grade corporate market trended towards high beta names this week, with a spate of deals from riskier names, including the first outing for German fallen angel ZF Freidrichshafen since its downgrade.
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Following its inaugural sustainability bond on Monday, Luxembourg hopes that other sovereigns will use its framework as a starting point for their own outings in the format. The Grand Duchy’s sustainability framework is the first to align with the recently published EU taxonomy.
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Europe’s corporate bond investors had the spectrum of credit ratings to pick from on Thursday, from A- rated Volvo Treasury down to German speculative grade fallen angel ZF Friedrichshafen.
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French reinsurer Scor launched a tier two at a negative new issue premium on Thursday, finding plenty of demand after a prolonged absence from the market.
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AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.
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Yorkshire Building Society was more than three times subscribed for a new euro senior deal on Thursday, despite worsening EU-UK relations in the run-up to the Brexit date.
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The Republic of Korea wowed investors in the dollar and euro markets on Wednesday, with a record $1.45bn-equivalent dual-tranche bond. The deal, split between 10 year dollar and five year euro notes, was priced at ultra-tight spreads — including a negative yield for the euro tranche. Morgan Davis reports.
