BNP Paribas

The Indian government is aiming to add around Rp10bn ($146.9m) to its coffers from a sell down of shares in Housing and Urban Development Corp, said a banker working on the deal.

Wisdom Education International Holdings Co kicked off investor education for a $200m IPO in Hong Kong on Tuesday, squeezing into a tight pricing window before the Chinese New Year break.

Europe’s convertible market is no longer dripping with superlatives as 2017 begins — middling performance and mild outflows have taken out some of the heat. That may be a good thing, as investors may get more of the deals they like: for companies whose credit needs some looking at, but with interesting equity stories. Aidan Gregory and Jon Hay report.

China New Town Development Co has appointed BNP Paribas as a placing agent to help meet the free float requirement in Hong Kong once its delisting from the Singapore bourse is completed.

The Z5.14bn (€1.16bn) of loans for the leveraged buy-out of Allegro, the Polish online marketplace, have been allocated, with the leads choosing zloty rather than senior or junior euro bonds for the second lien piece.

Elysium Healthcare, the property portfolio being spun out of the Priory Group to BC Partners, has cut its sterling loan offering to £133m after reaching a ground rent agreement mid-transaction.

Four European lenders have turned down a $2bn loan for National Bank of Abu Dhabi (NBAD), while local banks are starting to return to secondary markets for the first time in a year — signs that the Middle Eastern loan market could see a different set of banks driving it in 2017. Elly Whittaker reports.

France has carried and cared for the idea of creating an explicitly bail-inable class of senior debt for about nine months, but the birth of the new asset class this week was swift, effortless and pain-free. Success of the first two deals was critically important, as investors will become very familiar with the new product in the first quarter of 2017.

Commitments for CVC-owned French healthcare firm Elsan were due on Thursday for its €730m acquisition term loan, after guidance was tightened twice in an ever bullish loan market as the year end drew near.

VietJet Aviation sealed Vietnam’s largest IPO this week, pricing the D3.79tr ($167m) trade in the lower half of expectations and becoming a rare bright spot in an otherwise patchy market for stock sales.

Groupe SEB has set a new record for a French borrower tapping the booming Schuldschein market, raising a whopping €800m to help it buy a German company.

Investors greeted Crédit Agricole’s market opening senior non-preferred trade with more than €5bn of orders on Tuesday, allowing the issuer to bring pricing closer to its vanilla senior curve. Société Générale quickly showed it wanted to be next in line, in what is shaping up as an encouraging start for the new asset class.