BNP Paribas
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Saudi Arabia has increased its loan from $10bn to $16bn as banks line up to join the facility, according to a statement from its Debt Management Office (DMO). -
The IPO filing season in Hong Kong is picking up steam, with a number of issuers submitting their applications for new listings this week.
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Sunday's Italian election is looming in the minds of those in the European SSA market. But despite the political risk posed, there is next to no volatility in evidence.
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The total issuance of investment grade corporate bonds in February was an underwhelming €14.8bn but the property sector has outshone all others in 2018 and this week was no different as investors had further diversification to consider.
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Six of the nine investment grade corporate new issues in the last week of February were announced with a three letter acronym that, while providing clarity, served to frustrate investors keen to see greater volumes of issuance. WNG stands for “will not grow” and this week told investors that the meagre sized deals would not be increased, irrespective of demand.
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Republic of Senegal could well have timed to perfection its plans to issue a euro-denominated bond with EM investors calling this the “last chance” for EM borrowers to take advantage of extraordinarily low interest rates in the currency.
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BNP Paribas has reshuffled the management of its global markets business, making Martin Egan a vice-chairman of the global markets client board and promoting syndicate boss Fred Zorzi to head of primary markets. Benjamin Jacquard, who was co-head of primary and credit markets with Egan, will be leaving the firm and is thought to be heading to the buy-side.
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Finnish residential property developer Kojamo and French care home operator Orpea added to the geographical diversity of the property company corporate bonds sold this week with a €500m seven year deal, while frequent issuer RCI Banque sold a dual tranche offering
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Dongfeng Nissan Auto Finance will be returning to the Chinese asset-backed securities market on March 8 with a Rmb4.5bn ($710m) dual-tranche deal on the interbank market — the largest transaction by a foreign name originator so far this year.
