BNP Paribas

BNP Paribas Fortis managed to get an oversubscribed order book for its seven year covered bond and priced the deal inside the previous Belgian issue from ING. However, the deal was unusually slow to build and, with market conditions deteriorating, spreads are expected to widen.

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies.

Midea Real Estate Holdings has launched its Hong Kong IPO, which could raise up to HK$3.87bn ($495.4m).

French electricity utility EDF sold the first hybrid corporate bond deal in the euro market for more than two months on Tuesday, as it launched a tender offer for its existing hybrids with the aim of maintaining its existing volume of outstanding bonds.

Bain Capital is preparing to test whether sentiment towards French IPOs has improved post-summer, by floating Consolis, the concrete producer, on Euronext Paris.

General Electric’s distributed power unit began marketing a $1.8bn leveraged buyout loan. The deal has high net leverage and tight pricing guidance, two of the possible risks in the market underlined by the Bank for International Settlements (BIS) this week.

BNP Paribas has hired Nomura's John Bigham as a senior banker, to boost its strategic UK coverage.

Telecoms company Swisscom offered the Swiss franc bond market 10 year paper on Monday.

Spain’s largest department store group, El Corte Inglés, picked a busy week to roadshow its first rated issue. But its bonds will be listed in Dublin, despite efforts from the Spanish financial regulator to force a domestic bond listing in Madrid.

ICBC Standard Bank on Monday said that it had hired two commodities derivatives veterans to take senior roles in its base metals business.

Saudi Basic Industries Corporation (Sabic) has selected banks for its first trip to the bond market for five years, angling to refinance a bond maturing next week.

Shandong Gold Mining has raised HK$4.8bn ($616.8m) after sealing its IPO at the bottom of price guidance, according to a senior banker on the deal.