BNP Paribas
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Snam, the Italian gas utility, issued a €1.25bn 10 year bond on Monday, winning praise from bankers away from the deal as it printed with no new issue premium. -
With one quarter left of 2016 to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.
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The recent surge of primary action in European high yield suffered a blow on Monday when Verallia pulled its €500m pay-if-you-can (PIYC) bond. But the market trotted on and kept its momentum.
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Bahrain Commercial Facilities Company (also known as Bahrain Credit) has signed an $80m five year term loan with five banks.
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Air Liquide's €3.28bn rights issue, the biggest in the world last year, was a blowout success.
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Innogy, RWE’s renewables, retail and grids business, had a bumpy first day of trading in Frankfurt on Friday after it completed its IPO which valued the business at €19.2bn. It is the largest flotation in Europe since Glencore in 2011.
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Italian multi-utility company Hera made a rare visit to the euro market on Thursday as it issued a sub-benchmark 10 year bond that was over two times subscribed.
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It was all going so well for Italy. Its entry to the 50 year bond club on Tuesday pulled in a monstrous €18.5bn of orders. But almost immediately the bond became tradeable, the market frothed with talk of the European Central Bank tapering QE, sending Eurozone periphery bonds into a tailspin to remind everyone just how much markets are in the grip of central bank policy. Lewis McLellan reports.
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French agency Société de Financement Local will launch on Tuesday its first ever syndication.
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The French owned Belgian bank has appointed leads to market its first legally compliant covered bond that is backed by Belgian mortgages.
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The covered bond pipeline grew this week as Ibercaja and BNP Paribas Fortis mandated leads for roadshows and Nordea signalled it could be ready to return soon.
