BNP Paribas
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Republic of Turkey has turned to euros for its second trade since its constitutional referendum on April 16, as Yapi Kredi markets a lira denominated Eurobond. -
A $500m three year borrowing for State Bank of India has been allotted among 21 lenders, eight of which joined during general syndication.
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South Korea’s GS Caltex Corp bagged a $400m five year deal on Monday, securing buy-side support thanks to its credentials, despite a soft market backdrop.
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Korean Air Lines is trying to take off with a new dollar bond following an aborted attempt in September last year. Also on Monday, GS Caltex Corp is out with a five year 144A/Reg S deal, while SOCAM Development has reopened its recent notes.
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Another vibrant week in the equity block trades market was capped off on Thursday night by two big trades in the France and the UK.
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Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is tapping the syndicated loan market for $100m split into two tranches with different tenors.
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Dena Bank is seeking shareholder consent to raise up to Rp18bn ($279m) via a qualified institutional placement, India’s latest FIG name to tap equity markets for funding.
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Sub-benchmark transactions made up a chunk of Wednesday’s busy euro primary market, with Metso Corp and Neste bringing bonds for less than €500m.
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The Republic of Côte d’Ivoire’s plans to issue the first euro denominated trade from sub-Saharan Africa is dividing the market. Some see the trade as a sensible move to fund in the country’s “natural currency” while others argue that the trade could be a warning sign that we are reaching the top of the bull run.
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There was just a smattering of public sector dollar deals this week — but a wide difference in how they fared.
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Strong demand for floating rate paper helped BNP Paribas take home a longer dated than usual non-preferred note this week, while Royal Bank of Scotland’s rare operating company FRN had a similarly warm welcome.
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