BNP Paribas
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After a month of consistent spread widening in European corporate bonds, bankers are hoping for tighter pricing in November, but some investors say the new levels better reflect the value on offer in the market. -
Mubadala Development Company printed its $800m 10 year bond on Wednesday, refinancing its tendered 2021s and 2022s and taking a minimal amount of new money in the process. But the new issue premium paid is under debate.
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Nogaholding sold its $1bn dual tranche bond on Wednesday from a book of around $2.5bn, demonstrating Bahrain borrowers’ access to the bond markets after the country’s bailout from its Gulf Co-operation Council neighbours in October.
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Jaguar Land Rover, owned by India’s Tata Motors, has returned for a $1bn loan, just months after closing a smaller £640m ($839m) dual-tranche facility.
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BNP Paribas has seen two senior changes in its Asia business recently, according to multiple sources close to the situation.
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China National Bluestar (Group) Co paid a handsome new issue premium for a $300m senior perpetual bond amid weak sentiment for the structure, as its deal caused a widening in the broader Chinese senior perp market.
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Mirae Asset Daewoo Co became the first securities firm from South Korea to tap the international bond market this week, when it issued $300m on Wednesday.
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Indonesia’s Pertamina made a quick comeback to the debt market on Wednesday, selling a 30 year bond just days after terminating a tender offer.
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Sujata Bhattacharjee has returned to BNP Paribas’ loans team after a short stint at Indian investment firm 1Crowd.
