BNP Paribas

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

Cemex, Thomas Cook, Telenet and Lowen Play injected €1.7bn of bond offerings into a visible high yield issuance pipeline already populated with Pinewood and CeramTec this week.

Greece was able to exchange more than €25bn of old bonds for new assets in an exercise designed to normalise the borrower’s curve. The offer ended on Tuesday, in the midst of discussions about the conditions that will be attached to Greece’s next tranche of emergency loans. The fresh curve should allow the borrower to return to capital markets twice in 2018.

BNP Paribas will join Morgan Stanley, Credit Suisse, Goldman Sachs, UBS, Citigroup, and Société Générale as a systematic internaliser when MiFID II regulations come into effect in January.

UK distribution company Bunzl and UK logistics property company Tritax Big Box REIT both met with investors in the UK in the first half of this week before launching debut bond deals on Thursday, while Anglian Water Osprey Financing launched a transaction straight after an investor breakfast.

A trio of equity-linked issues this week was capped off on Thursday by a €100m convertible bond due in April 2023 from Pierre & Vacances, the French operator of tourist villages.

Private equity firm Ardian is ready to tap Europe’s leveraged finance markets to fund the acquisition of a controlling stake in Dérivés Résiniques et Terpéniques (DRT), the French plant chemistry specialist, but there are mixed views on the outlook for further M&A-fuelled leveraged finance activity.

Greece was able to exchange more than €25bn of old bonds for new assets in an exercise designed to normalise the borrower’s curve. The offer ended on Tuesday, in the midst of discussions about the conditions that will be attached to Greece’s next tranche of emergency loans.

Lead banks have scheduled a December date for the syndication of a €3bn equivalent multicurrency loan package that is supporting PAI and British Columbia Investment Management Corporation’s leveraged buyout of bottling company Refresco.

Sasseur Reit will put off launching its S$500m ($366m) IPO in Singapore until early next year, according to bankers close to the matter.

Inmobiliaria Colonial, the Spanish property company, has raised €416m to partly finance its bid for rival Axiare Patrimonio.

The State of North Rhine-Westphalia launched a €2bn benchmark on Tuesday, printing with what leads said was zero new issue concession as the market prepares to shut down for year end.