BNP Paribas
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One of Europe’s major electricity producers, Portugal’s EDP sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles. -
BNP Paribas has appointed a new head of credit trading desk analysts for European banks, with the hire joining from MUFG Securities.
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Romania was able to cut the spreads on both tranches of its euro benchmark on Thursday.
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A sharp sell-off in US Treasuries after the release of stronger than expected US economic data has changed the landscape for dollar issuance. Ten year benchmarks could be possible, although one product investors would normally welcome in a rising rate environment — floating rate notes — is unlikely to make a big comeback.
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Switzerland’s Nestlé has refinanced or extended loans totaling around €11bn, and lenders say that the rest of the year will be populated by similar transactions in the investment grade market.
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Comcast got October off to a flyer after high-grade corporate dollar issuance slumped to its weakest level for four years in third quarter. However, aside from Comcast there were slim pickings in the high-grade market this week.
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LeasePlan, the Dutch car leasing company, has launched its IPO on the Amsterdam and Brussels bourses, having filed an intention to float document on Thursday.
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Most European leveraged loan deals in October are achieving savings of 25bp and more over price talk, with demand on the rise. The loan offering to fund Advent’s buyout of Distributed Power confirmed this trend, as it tightened margins and issue discounts.
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Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.
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The Brussels IPO of Shurgard Self Storage, the largest operator of self-storage facilities in Europe, is covered, less than three working days into the bookbuild.
