BNP Paribas

Commercial banks are in the driving seat for the highly levered financing of Cinven and Astorg’s purchase of testing business LGC Group. Regulatory issues are said to have kept some US banks away from the deal, but others question whether a large revolver commitment had more of an impact.

Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

Ageas sold a restricted tier one (RT1) bond this week in an effort to replace some of its grandfathered securities. The insurer secured tight pricing, bolstered by about €5bn of orders.

A director working on debt advisory and structuring at Barclays is leaving the bank to take up a new job on the buy-side.

Italgas, the Italian gas distributor, issued a €500m 12 year bond on Monday, although syndicate bankers said they expected deal flow to diminish to a trickle over the week.

Power company Electricité de France issued its third bond in quick succession on Monday, and investors piled into the book, seemingly little fazed by its heavy recent issuance.

GN Store Nord, the unrated Danish maker of hearing aids and headsets, launched a €200m-€250m four year bond today under its newly established Euro-MTN programme.

Amid signs of progress, BNP Paribas faces challenges to deliver on its radical transformation plan, writes David Rothnie.

Groupe BPCE and BNP Paribas issued green bonds this week, attracting strong levels of demand for such a late stage in the year.

Chinese car manufacturer Geely Automobile Holdings came out with its first perpetual deal this week, raising $500m while paying a small premium over its outstanding senior bond.

Surprisingly buoyant market conditions mean that next week could be wide open for business instead of sinking into a post-Thanksgiving lull, said financial institutions DCM bankers.

Merlin Properties, the Spanish real estate investment trust, launched on Wednesday a €500m no-grow 15 year benchmark bond, rated Baa2/BBB, with a positive outlook from S&P Global.