BNP Paribas
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US corporate bond issuers got straight back to business after the July 4 weekend as 11 borrowers raised $10.8bn, though the volume of issuance is tapering off as companies head into earnings blackouts. -
BBVA has become the first bank to print a green additional tier one (AT1) deal. When it was issued this week, it proved that the demand for socially responsible investments (SRI) extends to the riskiest of asset classes, meaning other banks are certain to bring out their own versions of the trade, writes David Freitas.
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Following the sale of its third syndication of the year this week — a €3bn inflation-linked bond — France does not expect to bring any more public benchmarks in 2020.
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Philip Hertlein, the former head of SSA origination and syndication at LBBW, has joined BNP Paribas’s public sector debt capital markets desk.
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Unédic came to the market for its third social bond on Thursday after making its debut in the format less than two months ago. The deal extends the French agency’s social curve out to 15 years and completes its €10bn explicitly guaranteed funding allowance for 2020.
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Property managers Zhenro Services Group and Greentown Management, along with developer Ganglong China, all priced IPOs this week, albeit with different responses from the market.
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France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.
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TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.
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France hit screens on Tuesday to announce a new long-dated inflation-linked benchmark at a time when market participants are bracing for the return of inflation due to the vast amount of monetary stimulus and spending by governments in response to the coronavirus pandemic.
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BBVA became the first financial institution to issue green debt in additional tier one (AT1) format on Tuesday, launching a bond with a 6% coupon. The Spanish lender left no premium on the table, according to some market participants.
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Shinhan Financial Group raised $500m from a Covid-19 resilience social bond on Monday, finding support from investors keen to buy deals sold to help businesses and people impacted by the pandemic.
