BNP Paribas
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US companies piled into the euro bond market on Tuesday, as white goods maker Whirlpool, Dow Chemical and apparel company VF Corp launched medium to long maturity debt. -
BNP Paribas was guiding investors towards a coupon in the 4.75% area for a new additional tier one (AT1) on Tuesday, as it looked to price its deal at the lowest level ever acheived by a European bank in the dollar market.
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Trans Retail Indonesia has caused a stir by deciding to structure its new syndicated loan with a relatively rare two-stage participation fee payment. Although not all banks will be wholeheartedly on board, the borrower’s move is savvy under the circumstances.
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China Aoyuan Group and China Huarong Financial Leasing Co this week raised a combined $388m from bonds that will mature in less than one year, taking advantage of a regulatory loophole to tap the market with short-dated deals.
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BNP Paribas Asset Management has promoted Jean-Charles Sambor to lead its emerging market fixed income team, taking over from Bryan Carter.
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BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.
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Equity investors are losing their appetite for oil and gas stocks, just at a time when three of the biggest IPOs being planned in EMEA are from that sector. The coronavirus outbreak is sapping Chinese demand, leading to a weak oil price. But some bankers believe investors are also making a more fundamental shift away from fossil fuels, which could even lead to a permanent tipping point. Sam Kerr and Jon Hay report.
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Borrowers hit screens in euros from three to 50 years this week, all enjoying heavily subscribed books and pricing with skinny new issue premiums thanks to investors’ confidence in consistent support from the European Central Bank.
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Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.
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Export Development Canada has mandated banks for its first dollar benchmark of the year in what has been a quiet week in the currency for public sector borrowers. SSA bankers expect activity in dollars to pick-up next week, despite a US public holiday on Monday.
