BNP Paribas
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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. -
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.
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LG Chem, the chemical and battery producing arm of South Korean group LG, launched its first euro and dollar bonds this week, after a long sojourn in the won market. All three tranches, which were also green bonds, were heavily oversubscribed.
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The undersupplied European high yield market saw a strong start on Monday, as banks announced new deals from Ineos and Italmatch.
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KfW extended its syndicated euro curve to 2039 on Monday as it brought a new 20 year line that was priced flat to fair value.
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Loxam, the France-based equipment rental company, refinanced a secured and subordinated high yield bond with a twin tranche new issue this week, cutting its funding costs, the spread between the tranches, and showing the strength of the bid for subordinated paper.
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Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.
