BNP Paribas
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Dredging and Maritime Management, a Luxembourg-based company, is the latest borrower to have refinanced its bank debt with green financing, having agreed a €550m deal with lenders. -
BNP Paribas launched a non-preferred senior bond in euros on Wednesday, tightening the pricing 20bp from price thoughts despite a 'softer' backdrop in financial markets.
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Private education provider Edvantage Group has priced its well-oversubscribed Hong Kong IPO in the middle of the price range, raking in HK$712.5m ($91.2m).
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China National Bluestar (Group) Co made a comeback to the offshore bond market on Tuesday, pricing a $700m deal inside fair value.
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Korea Gas Corp (KoGas) became the first South Korean corporate to sell 10 year sustainability bonds on Tuesday, raising $500m. The country’s issuers are leading the way across Asia in selling environmental, social and governance debt.
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Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week, a banker said. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, and Export Development Canada and Erste Abwicklungsanstalt are set to follow.
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Romania entered a crowded euro bond market on Tuesday, with 12 and 30 year papers. The deals may be among the last euro issues from the emerging markets before the summer lull.
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Posco, the South Korean steel firm, has sold its first sustainability bond, raising $500m and attracting investors to its solid investment grade credentials.
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Corporate bond issuance in Europe has slowed, though demand remains strong, as evidenced by new issues on Monday for A2A, the Italian multi-utility, with a debut green bond, and Logicor, the warehouses group. Bankers expect appetite to remain steady but for the pace of issuance to be more sedate than in recent weeks.
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Oil and gas firm Ithaca Energy is to issue a new $700m unsecured bond as part of the financing for its acquisition of Chevron’s North Sea assets.
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The Asian Development Bank is set to return with its second dollar benchmark of the year later this week.
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