BNP Paribas

The UK’s National Grid Electricity Transmission is set to make its debut green bond issue in euros, when it returns to the currency for the first time for more than a decade.

Air France KLM has mandated banks for a five year euro bond. The appearance of an unrated issuer so early in the year is being seen as a sign of the market’s strength.

JP Morgan was the top bookrunner for investment-grade syndicated loans globally in 2019 again, though BNP Paribas was the bank to beat in Europe.

Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

Property manager Central China New Life is planning to list in Hong Kong in the first quarter, said a source familiar with the transaction.

TrailStone Group, the gas and power trader and investor based in London, has closed the year with a €150m revolving credit facility, which complies with the Green Loan Principles.

Italian football club Juventus has finished its €300m rights issue, which is intended to strengthen its balance sheet after an annual loss in 2018.

Lenovo Group, one of the world’s largest computer and electronics makers, lost a long time financing partner when IBM decided to close its factoring operation for hardware equipment manufacturers in February, GlobalCapital can reveal. But Lenovo moved fast to replace this with one of the largest trade receivables securitizations ever signed. The $3bn deal included selling junior notes to three investors to maintain full off balance sheet treatment for the assets and debt.

Telefónica Deutschland has signed a €750m environmental, social and governance-linked (ESG) loan, as sustainability financing continues to gain a foothold in a country that has until now been slow to take up the structure.

Big European investment banks pivoted towards the Americas during 2019 in an attempt to boost revenues and position themselves for the next downturn, writes David Rothnie. With large M&A across the industry still off the table, banks are finding scale through joint ventures and alliances.

Hong Kong-based personal loan provider PrimeCredit has issued $200m of asset backed securities, making it the first public term securitization in Hong Kong in more than a decade.

Power company Electricité de France has agreed to buy back almost €1.2bn-equivalent of its hybrid capital bonds, marking the end of a busy period for the company in the debt markets.