BNP Paribas

Triple-B rated companies piled into the bond market on Tuesday, as RCI Banque, Fresenius and General Mills raised €2.1bn between them.

The Republic of Slovenia became the first CEEMEA issuer to print a bond this decade, quickly launching a €1.5bn deal from a book of €11.75bn on Tuesday.

Issuers rushed to open the euro covered bond market this week. Trades from ABN Amro, Erste Group and LBBW showed that investors are ready to put cash to work, but higher new issue premiums suggested that issuers were taking a 'conservative' approach at the beginning of the year.

BNP Paribas and Danske Bank were looking to raise non-preferred senior debt in the sterling market on Tuesday, with the cost of funding in the currency having fallen into line with euro pricing levels.

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

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.