BNP Paribas

AusNet Services Holdings, the holding company of Australian energy firm AusNet, found a warm reception from the euro market this week in its first syndicated outing in the currency since 2015.

Trans Retail Indonesia, also known as Carrefour Indonesia, has returned to the loan market for a $740m-equivalent dual-currency deal. It features an unusual fee structure that has left many bankers scratching their heads, writes Pan Yue.

Siemens, the German machinery group, paid an average yield of 0.12% for €4bn of debt spread over three to 12 year maturities this week, as investors leaped at the chance to snap up highly rated corporate debt.

Piraeus Bank took advantage of the recent hunt for yield in the euro market this week, pricing a new tier two with a yield of 5.5% on Wednesday. The €500m bond was eight times subscribed, which is testament to the prevailing hunt for yield in the bond market.

UniCredit was greeted with more than €7bn of demand for a new additional tier one in the euro market on Wednesday, as the bank appeared to take its first steps towards including subordinated debt as part of its stack of Pillar 2 capital.

BNP Paribas launched a non-preferred senior bond at 73bp over mid-swaps this week, which included a small new issue concession to give room for a bit of secondary market performance for investors.

The UK’s Gerald Group has signed its annual dollar revolving credit facility, with the metals trader growing the size of its banking group and increasing the size of its deal to $253.5m.

The European Investment Bank raised €3bn on Tuesday with a five year deal, receiving €14bn of orders for a deal capped at €3bn.

Société du Grand Paris impressed the SSA market on Tuesday with a series of superlatives. It sold its biggest ever bond with the longest ever maturity for a syndicated green bond in any asset class. The City of Munich hit another landmark with the first social bond from a European city.

Honeywell International, the US technology and manufacturing conglomerate, is heading to Europe for a bond issue, as Reverse Yankees continue to be popular.

British Telecommunications joined the red hot hybrid capital market on Tuesday, tightening the yield on its new bond by around 60bp during execution as investors clamoured for returns.

Siemens, the German machinery group, launched a €4bn and £850m multi-tranche jumbo bond issue on Tuesday, blowing away worries that similar deals from last week had started to saturate the market.