BNP Paribas
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French postal operator La Poste saved the corporate bond market in Europe from registering a blank week when it sold its first green bond last Friday. On Wednesday, Deutsche Post followed its peer’s lead by announcing a deal with the same tenor. -
NatWest Markets has hired a senior BNP Paribas rates trader to head its US dollar linear rates trading team.
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BNP Paribas has made an internal appointment for a sustainability research analyst in its recently launched markets research platform.
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Edenred, the French operator of employee benefit schemes, discovered on Thursday that investors still have cash to put to work in the corporate bond market, even though eight deals had been priced in the first three days of the week and the end of the year is in sight.
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Hong Kong conglomerate New World Development Co printed its first green bond this week, raising $310m. While its green efforts were lauded, the company’s lack of rating kept many investors at bay.
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The last posting date for Christmas tends to coincide with the closing of the euro corporate bond market. Ahead of that coincidence this year, two postal companies have sold new bonds, after Deutsche Post followed La Poste of France’s lead.
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After testing the market with a single tranche Rmb1.94bn ($284m) note in August, carmaker Geely will launch a bigger deal with a more complex structure.
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Semen Indonesia has launched senior syndication for a $1.28bn loan that will be used to buy the local operations of rival LafargeHolcim.
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US medical technology company Stryker had to wait longer than it planned for its debut in the European corporate bond market, but when the chance to launch the deal came on Tuesday, it achieved the hat-trick it was aiming for with an extra tranche added for good measure.
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African Development Bank and Nederlandse Waterschapsbank hit screens on Monday for SRI bonds. Meanwhile, CPPIB Capital will aim to issue its first green bond in euros early next year, following the conclusion of a pan-European roadshow last month.
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On Monday, French supermarkets group Carrefour made its second visit to the corporate bond market of 2018, once again in the wake of a period of volatility. However, the company’s timing proved to be good as it was able to tighten pricing 15bp from initial price thoughts.
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