BNP Paribas
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Renault issued a €1bn bond from its industrial arm on Monday, after a tumultuous few weeks in which the company had negotiated a (for now) abandoned merger offer from Fiat Chrysler Automobiles. The deal came amid a busy flurry of smaller issues. -
Patrick Drahi’s BidFair USA vehicle has agreed to take auction house Sotheby’s private for $3.7bn, a premium of 61% to Sotheby’s closing share price on Friday. BNP Paribas has provided committed debt financing for the all-cash deal, with Morgan Stanley joining as financial advisor.
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Packing company Dynapack Asia is tapping the loan market for the first time, seeking a S$250m ($182m) borrowing.
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Engie, the French electricity and gas group rated A3/A-/A, chose an otherwise quiet Friday in the European corporate bond market to issue a €1.5bn eight and 20 year green bond. The deal was more than twice oversubscribed.
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Volkswagen surprised the equity capital markets on Friday by setting a range on the IPO of its trucks division, Traton, a few days earlier than most in the market had expected. But the deal has already gained strong investor interest.
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With equities in green, Thursday was a fair sailing day for corporate bond issues in Europe, and five issuers took advantage, including two French names and two Swedish. Demand was strong and terms tight.
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A pair of French agencies hit screens with new SRI notes this week. On Wednesday, Caisse des Dépôts et Consignations came to market with its debut sustainable bond, the first under a new green, social and sustainable framework. And on Thursday, Régie Autonome des Transports Parisiens steamed in with its second ever green bond.
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BNP Paribas has hired a banker from SMBC to fill the vacant position of head of US private placements.
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Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.
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The European Investment Bank printed a €3bn 10 year trade on Thursday, dragging the pricing in by 2bp during execution.
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Ukraine has released initial price guidance for a euro deal that the country has been waiting to print since before Volodymyr Zelensky’s presidential victory in April.
