BNP Paribas

Société du Grand Paris and the City of Munich will break new ground in the socially responsible bond market this week as the pipeline for green and social debt from public sector borrowers builds.

Marel, the Icelandic company that makes food processing equipment, has signed a €700m revolving credit facility, becoming the latest investment grade borrower to switch its bank debt to a sustainability-linked structure.

Piraeus Bank has mandated lead managers for the sale of a new tier two, as it looks to follow the success of its compatriot Alpha Bank. Greek banks have emerged as big winners in the secondary market recently, with investors shrugging off risks and focusing on ‘only the positives’.

Indian Railway Finance Corp courted investors for a 10 year bond on Thursday, only to add a 30 year tranche to the transaction later in the day following reverse enquiry.

LVMH Moët Hennessy – Louis Vuitton SE, the French luxury goods group, and Comcast, the US telecoms company, brought the European corporate bond market’s two biggest multi-tranche issues of the year on Wednesday, each hitting sterling and euros and blasting aside fears around coronavirus epidemic’s economic impact. LVMH raised €9.33bn, and Comcast €4.6bn.

BNP Paribas has created a global leadership role for its equity derivatives trading division, appointing Emmanuel Dray to the position.

Bahrain Steel to lock in better conditions in refi — Saudi sparks life into local loan mart — Cranfield University soft-sounds private placement market — Golding Homes looks to add hundreds of houses with £120m facility — Great Portland brings ESG loans to UK Reits

Cepsa, the Spanish oil company, and Tyco Electronics, the US sensor technology company whose parent TE Connectivity is headquartered in Switzerland, hit screens with single tranche bond issues on Thursday, giving investors a break from the rash of jumbo deals in euros earlier this week.

Green bonds hardly trade any tighter than their ordinary counterparts, according to new analysis from Deutsche Bank.

Central China Real Estate manoeuvred its way around China’s offshore bond issuance regulations on Wednesday by marketing a sub-one year note. The deal made Central China the first mainland property company to sell a bond in the wake of the coronavirus volatility.

Bahraini iron pellet producer Bahrain Steel is in discussions with lenders to refinance an existing facility, according to bankers. The deal, some say, is part of a broader trend among emerging market borrowers seeking to secure more attractive conditions.

AusNet Services Holdings, the holding company of Australian energy company AusNet Services, has mandated banks for a potential euro benchmark bond, as the euro continues to attract foreign issuers.