BNP Paribas
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Nederlandse Waterschapsbank (NWB) acted as an oasis for dollar starved investors on Thursday, with its $500m no-grow floater oversubscribed before US markets opened. -
Stephanie Sfakianos, BNPP’s head of sustainable capital markets, is retiring from BNP Paribas after 15 years with the bank.
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The Manchester Airport Group, which owns Manchester, East Midlands and London Stansted airports, launched a £350m bond on Wednesday. In an investment grade corporate bond market that had otherwise been empty of new issues in the first half of the week, the deal was covered more than 3.5 times.
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Nederlandse Waterschapsbank (NWB) is taking indications of interest for a $500m no-grow 18 month floating rate note on Wednesday, amid an absence of benchmarks business given a spate of global public holidays this week.
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The loan backing the €5.8bn takeover of Versum Materials by German pharmaceutical firm Merck launched into syndication on Wednesday. Three banks are leading the financing. Versum is the former electronic materials division of Air Products & Chemicals, which was spun off in 2016.
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Telecoms giant Altice announced a €2.8bn-equivalent dual currency high yield bond on Tuesday through Goldman Sachs. Along with the proceeds of the new notes, the group will spend €1.5bn to cut group leverage — a crucial move, as telecoms firms grapple with the high capital costs of preparing for the rollout of 5G technology.
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Groupe PSA, the French car maker, has sold more than €500m of Schuldscheine, as a flurry of French firms find fortune in the market.
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Dometic Group, the Swedish company that makes appliances for mobile homes, started the week by launching a €250m seven year high yield bond that was tightly priced, perhaps partly because the credit market was otherwise fairly quiet.
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Spain’s Merlin Properties has signed a €1.55bn sustainability linked loan, with the real estate company becoming the latest in a long line of names to add green and social elements to their bank funding.
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Brazilian meatpacker Marfrig will meet US bond investors next week as it looks to take condition of plentiful demand for assets to finance a buy-back of existing bonds.
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US-property backed Eagle Hospitality Trust has begun bookbuilding for its Singapore listing, looking to float for a market capitalisation of up to S$957.4m ($703m).
