BNP Paribas
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Shares in Stadler Rail, the Swiss maker of rolling stock, gained as much as 12.9% in trading on Friday after it priced its Sfr1.33bn IPO at a discount to its Swiss industrial peers. -
Italmatch, a chemical additives company owned by Bain Capital, has announced a €200m add-on to its €410m senior secured floating rate note, to repay the acquisition debt it took on to buy BWA Water Additives.
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KFW and Bank Nederlandse Gemeenten (BNG) were able to come flat or just through the curve with their long-end trades in the euro public sector market this week.
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Hungry for some social purpose, and perhaps a longer maturity, investors hoovered up Yorkshire Water’s first sustainable bond on Thursday. This allowed the UK utility to tighten the pricing to fair value or even tighter.
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Ineos, with a split high yield/investment grade rating, announced a drive-by €770m seven year non-call three bond issue on Monday, refinancing its 4% 2023 bond of the same size.
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Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.
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India’s JSW Steel raised $500m in an opportunistic transaction on Wednesday, marking the company’s first dollar bond in two years.
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After issuing a £500m seven year bond in March, Glencore repeated the performance, this time in the euro market. It issued a €500m 7.5 year bond that achieved a similar book size and price tightening. Telecom Italia also issued for the second time this year, after losing its Fitch investment grade rating on Friday.
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Spain’s Abertis Infraestructuras has shifted the obligations of around €9.97bn of loans to itself from its holding company, with the toll roads group immediately paying down a sizeable portion of the debt.
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The African Development Bank’s inaugural Norwegian krone bond, the first ever social bond in the Norwegian market, could pave the way for further social issuance in the sector.
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Singapore-based loans banker Cho-Teng Kooi has resigned from BNP Paribas, according to a source familiar with the matter.
