BNP Paribas
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Bpifrance became the first French issuer to sell a Covid-19 response bond on Friday, raising €1.5bn. -
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New ECM head at UniCredit — NIB treasurer heads to SEB — Mills takes up newly created position at UBS
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French aerospace and defence company Safran has set up a new €3bn loan facility.
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Bpifrance is preparing to issue a bond which will be used to provide loans to companies in France to help them overcome the economic difficulties of the coronavirus pandemic.
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The corporate bond market has returned to some semblance of normality, with Switzerland’s Firmenich and Australia’s APA Group taking the traditional route of holding a roadshow before opening books, and syndicate bankers say the wild, record-breaking weeks for primary issuance are over for now.
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BNP Paribas has hired from Standard Chartered to bolster its Latin American debt capital markets team, GlobalCapital understands.
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Spain enjoyed enormous demand for a 10 year syndicated bond on Tuesday, with an order book which was almost double the previous record for a single tranche euro public sector benchmark. Bankers away from the deal said investors were attracted by the big new issue premium on offer.
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Europe's equity capital market bankers are expecting a resurgence of secondary share sales by investors over the coming weeks as financial sponsors look to take advantage of the rebound in global equity markets since the start of the pandemic to raise cash to redeploy elsewhere.
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Italian-American car company Fiat Chrysler has drawn down on its €6.25bn revolving credit facility to shore up its finances during the Covid-19 pandemic, though the company has left a new bridge loan untouched.
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Asian Development Bank (ADB) and Agence Francaise de Developpement (AFD) hit the market for dollar paper on Tuesday, with the Manila-based supra going for five years and the French agency opting for three years.
