BNP Paribas

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.

Trans Retail Indonesia, also known as Carrefour Indonesia, has launched a dual-currency deal into general syndication, opting for a slightly different approach to paying participation fees to lenders.

Korea Development Bank raised $1.5bn from the bond market on Monday as investors showed strong support for the Aa2/AA/AA- rated issuer.

Two European borrowers hit screens on Monday morning at the short end of the euro curve, with a third set to follow suit on Tuesday as issuers. Both of Monday’s deals received extraordinarily strong demand.