BNP Paribas

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

CPI Ronghe Financial Leasing, a subsidiary of State Power Investment Corp, has made a quick return to the loan market for $300m, nine months after signing its last borrowing.

The US corporate bond market slowed to a trickle this week with just a handful of smaller deals as desks thinned out ahead of the Labor Day holiday.

BMW and Daimler reopened Europe's corporate bond market on Thursday in emphatic style, reminiscent of the market's usual reopenings after Christmas, when car companies often take the lead. Such a clear and classical restart to issuance, this early in August, is unusual.

Russia’s Mechel has signed a $1bn-equivalent loan facility, as the metals and mining group pushes ahead with plans to restructure its debt portfolio by the end of 2018.

Chinese bond issuers were the first out of the gate on Thursday, vying for investors’ attention after public holidays in many parts of Asia shut markets on Wednesday.

Mercedes-Benz Auto Finance has completed the tightest auto asset-backed securitization by any foreign originator in China in almost two years. The deal, which closed on Monday, was twice oversubscribed despite two underwriters dropping out of the syndicate at the eleventh hour.

BNP Paribas has replaced a member of its London-based SSA syndicate team with an internal appointment, GlobalCapital understands.

Banks with major exposures to Turkey were getting hammered after a loss of financial market confidence pushed the country towards a crisis at the beginning of the week. But analysts suggest that any fears of contagion into the European banking sector are overdone.

BNP Paribas said on Thursday that it had hired Viktor Hjort from Brevan Howard as global head of credit strategy and desk analysts, following the promotion of Olivia Frieser to global head of research.

Chinese companies BOC Aviation and Digital China have launched offshore loans into general syndication, seeking $500m and $100m, respectively.

Iron ore firm Ferrexpo has more than doubled the size of its revolving pre export finance facility to $400m and has extended the maturity by an extra year, but lenders say Ukraine’s loan market remains only partially open.