BNP Paribas

A $2.5bn refinancing by Reliance Industries (RIL) and its telecommunications arm, Reliance Jio Infocomm, has been opened to retail participants.

Three agencies launched short end dollar transactions on Tuesday, two of which managed to pull their spreads into impressively tight levels.

Hapag-Lloyd, the German container shipping company, has raised €352m to reduce its debt after its one-for-14 rights issue won a high take-up from its shareholders.

The €549m IPO of SMCP, the French fashion group, is set to be priced at €22 a share, valuing the business at €1.57bn.

CMA CGM, the French container liner, priced its first bond issue on Tuesday after improving on its triple-C ratings. Investor demand was enough for the issuer to double the size of the deal.

All four investment grade benchmark corporate bond deals that priced last week were from utilities. On Tuesday, Italian multi-services utility, Iren, and Dutch grid operator, Stedin, took the count to six.

French shipping group CMA CGM will launch a sub-benchmark sized bond on Tuesday, a week after S&P Global upgraded the rating of its unsecured note issuance from CCC+ to B-, bringing it into line with Moody's B3 rating.

Agencies from the Netherlands, France and Germany are set to come to market on Tuesday for short dated dollar deals.

French engineering services company Akka doubled its initial €200m launch size to just over €400m. With rising participation from Asian and European commercial bank lenders, issuers from the technology sector are finding higher levels of interest in the Schuldschein market.

UK grocer Tesco and US telecoms company Verizon both announced tender offers for some of their outstanding bonds in euros and sterling. Tesco is offering to buy up to £700m equivalent, while Verizon will confirm the size of its repurchase once it has sold new euro and sterling bonds.

China’s Haier Group Corp made a splash in the international market late week, pulling off a $1bn perpetual bond.

The mandate for Reliance Industries’ $2.5bn refinancing has been revealed. The deal will consist of three portions, the bulk of which will replace a $1.5bn loan taken by one of its subsidiaries in late 2014.