BNP Paribas

Barclays has sold more than half its stake in Barclays Africa, its separately listed South African subsidiary formerly known as Absa Bank, through a huge R37.7bn ($2.9bn) block trade on Wednesday night that was covered in 45 minutes.

Corporate bond issuance in Europe slowed to a trickle on Thursday after a gush of trades on Wednesday, as investors said they were growing increasingly tired of the recently popular execution method of offering a chunky spread at initial price thoughts, only to tighten markedly by final pricing.

KommuneKredit fell short of full subscription with a three year dollar benchmark on Thursday, with few updates provided through the book building process.

Chinese automotive component supplier Xin Point Holdings started pre-marketing its Hong Kong IPO this week, and is eyeing up to $150m after getting a recent boost in confidence, according to a source close to the deal.

Public sector borrowers are aiming for the short end of the dollar curve, as swap spreads in the area hover around the spot in which they started 2017, having dropped sharply from the year’s highs hit in March.

Strong demand for floating rate paper helped France’s BNP Paribas take home a longer dated non-preferred note on Wednesday, while its compatriot Banque Fédérative du Crédit Mutuel (BFCM) was able to walk away with £400m of new preferred senior funding.

Ivory Coast is using the strong investor bid for sub-Saharan Africa to fund in euros, to which its currency is pegged, and to reduce its dollar liabilities with a buyback. The deal is the latest example of borrowers from the region making smart use of the larger box of funding tools now available to them.

Chinese automotive component supplier Xin Point Holdings has begun investor education for its Hong Kong IPO and, after an early boost of confidence, is eyeing up to $150m, according to a source close to the deal.

Chandra Asri Petrochemical is looking to bring a Rph6.2tr ($462.2m) rights-plus-block trade combo to the market, in what will be a liquidity event for the Indonesian firm.

Chinese steel producer Shougang Corporation has mandated banks for its inaugural euro bond, with roadshow set to begin on Wednesday.

Indonesia’s Agung Podomoro Land (APL) priced its maiden offshore bond on Thursday, achieving a number of firsts thanks to its leading position in the country’s property market and its strong financials.

Malaysia Airports Holdings is looking to revise covenants on a €500m loan from 2015 taken for the acquisition of Istanbul Sabiha Gökçen (ISG) International Airport.