BNP Paribas
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The currency crisis in Turkey has prompted analysts to hone in on the balance sheets of European banks, as they look for the first signs of an increase in income volatility following the introduction of the new IFRS 9 accounting standard. -
Berlin property company ADO Properties had planned to issue its second corporate bond in recent weeks, following a successful investor update. However, a high profile bribery case in Israel has put the deal on hold for now.
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Auto components maker Sansera Engineering has begun pre-deal investor education for an IPO that could raise up to Rp15bn ($215.9m), according to a source close to the deal.
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Barclays and BNP Paribas both waited until August to seal additional tier one trades that investors had been expecting for the best part of 2018, pulling off their deals ahead of what could be a busier and trickier finish to the year.
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Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.
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European banks have taken full advantage of a window for issuance after second quarter results, with Lloyds Banking Group becoming the latest name to test the depth of the dollar market in the middle of summer.
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Tsinghua University Science Park, or Tuspark, raised $350m from its bond sale on Wednesday, notably helped by 14 bookrunners.
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The Canadian province of Quebec has mandated four banks, including two international firms, to underwrite its first bond in China, a finance official at the provincial government told GlobalRMB.
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The need to offer healthy new issue premiums is not holding back additional tier one bond issuers this summer. Barclays reopened the market for the product in dollars on Tuesday, to be quickly followed by BNP Paribas.
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UBS has nabbed a banker from BNP Paribas for its emerging markets DCM team.
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A Shanghai-based joint venture between carmaker Geely and BNP Paribas is to enter the Chinese auto loans securitization market for the first time next week. The company will test demand with a Rmb1.94bn ($284m) deal, selling just one tranche to investors in the interbank bond market.
