BNP Paribas

Otto, the family-owned German online and catalogue retailer, brought its first sustainable bond issue on Thursday. But despite it offering an interesting new flavour to green bond investors, the deal's sale produced an underwhelming result.

Following European bond issues by Volkswagen Financial Services, Volvo Car and RCI Banque last week, another car company entered the market on Monday. Toyota Finance Australia issued a two and five year bond that showed the market was very much open for business and full of demand.

Loxam, the France-based equipment rental company, is refinancing a secured and subordinated high yield bond with a twin tranche new issue this week.

A trio of public sector borrowers hit screens with mandates on Monday ahead of what SSA bankers say will be a busy week of supply following a glut of benchmark issuance towards the end of the first quarter.

The IPO of Stadler Rail, the Swiss train manufacturer, is already covered after opening the books on its Sfr1.4bn IPO on the SIX Swiss Exchange on Monday morning, according to a banker involved in the deal.

Country Garden Holdings Co raised $1.5bn in a dual tranche trade on Thursday. The longer dated tranche, a seven year tenor, is the longest dated bond from a high yield property borrower this year.

Bank of Baroda returned to the market on Thursday to sell its first dollar deal in nearly five years. The bank, acting through its London Branch, raised $800m in a sale that came just days before its expected merger with Vijaya Bank and Dena Bank.

Vodafone launched and priced on Thursday a $2bn hybrid capital issue, to gain some more equity credit in the eyes of the rating agencies. The deal follows Moody’s decision on Monday to give no equity credit to Vodafone’s £3.4bn mandatorily convertible bond, issued on March 5.

A trio sovereigns went to the MTN market over the past week, including Italy, which issued a yen bond for the first time since 2009. The deal, led by Nomura, was also its first issue in a foreign currency since 2010.

The French bank is continuing to execute its plan to become Europe’s leading corporate finance house, despite headwinds and looming consolidation, writes David Rothnie.

Sean Tai, founder of Debtdomain, spoke exclusively to GlobalCapital to discuss digital platforms in the Schuldschein market: their future, barriers to entry, the risk of fragmentation — and the possibility that Debtdomain's functionality could broaden.

Deutsche Börse has run an amend and extend operation on a €750m loan to add a sustainable element to its debt, as some lenders continue to rail against the proliferation of what they see as refinancing in all but fees.