BNP Paribas

Leveraged loan investors have recently started to win victories on deal terms, but on Thursday French engineering firm Socotec brought confirmation that market conditions are still in favour of borrowers. However, another of this week’s deals underlined the fact that investors can sometimes succeed in getting better terms.

The head of BNP Paribas' renminbi competence centre is stepping in after the retirement of China head Peter Kwok.

The busiest first half to a year in the Schuldschein market’s history is over. Nearly 70 issuers — originating from Russia to the US — have managed to launch transactions so far. But, some traditional German lenders are begging for a return to the market’s more usual sedate pace, to allow more time for vital credit work. Silas Brown reports.

Italian toll road operator, Atlantia, was the only issuer in the euro corporate bond market on Thursday. The €1bn 10 year deal could be used to finance Atlantia’s proposed acquisition of its Spanish rival Abertis.

Chinese regulators opened the door to foreign bond investors this week, launching a Bond Connect scheme that offers unfettered access to onshore renminbi bonds. The scheme promises to be a game-changer for global investors — as long as China does not rest on its laurels. Paolo Danese and Morgan Davis report.

ABN Amro Bank returned to the dollar Formosa market on Wednesday at the prompting of Taiwanese investors, raising $450m from its deal.

Pasubio, the Italian maker of speciality car upholstery, is funding its buyout by CVC with a leveraged loan and revolver launched on Wednesday in an issuer-friendly market.

Banco Santander has launched its €7.07bn fully underwritten rights issue to support its acquisition of the failed Banco Popular Español, saying it expects to make a return on investment on the deal of 13% to 14% by 2020.

The appetite of Schuldschein investors seems insatiable. Coming off the largest and busiest second quarter in the Schuldschein market's history, two non-German inaugural borrowers nearly doubled their funding targets on Tuesday.

Metallurgical Corporation of China (MCC), China National Chemical Corporation and Thailand’s PTT Exploration and Production are out in the market, gauging appetite for their respective bonds.

The leveraged loan market is set to take in one more issuer from the high yield bond market as French jewellery retailer Thom Europe looks for new term loans to redeem all of its bonds.

India’s Rural Electrification Corp found investors more interested in its government links than its bond’s green label when it debuted in the offshore market on Thursday with a $450m deal.