BNP Paribas

Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.

Swedish Export Credit Corp has set the terms on a $650m December 2020 floating rate note, increasing the size of its trade amid sharp volatility in the US rates market on the prospect of dovish policy action from the Federal Reserve.

Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.

After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.

CDP Financial has set the price in line with initial price thoughts for its two year dollar benchmark, giving investors a new issue premium of around 4bp.

Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).

Volkswagen has rebooted the IPO of Traton, its trucks division, after the deal was delayed in March due to volatility in equity markets caused by the ongoing trade tensions between the US and China.

Redexis, the Spanish natural gas distribution company, is making its first step into sustainability-linked borrowing, while amending and extending its revolving credit facility.

GlobalCapital is pleased to announce the winners of its 2019 Americas Derivatives Awards, revealed at a gala dinner at the Metropolitan Club in New York on Thursday May 30. As ever, the awards recognise the firms and innovations that have advanced the derivatives markets during the last 12 months.

US utilities continued to dominate dollar corporate bond issuance this week, as defensive names piled into the market before trade tensions slammed the brakes on supply on Wednesday. But issuers fought back on Thursday.

Buyers of credit default swap protection on bonds issued by Rallye, the holding company of French supermarket chain Casino, will find out on Friday how their positions might be settled, reports Owen Sanderson.