BNP Paribas
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A hungry euro market gorged on deals from France and the European Union on Tuesday, instilling confidence that a trio of trades on Wednesday’s menu will go well — despite two of them being in the same tenor. -
Pan-European issuance of corporate private placements nearly doubled to €13.8bn in 2015 from €7bn in 2014, according to Standard & Poor’s.
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Korea Resources Corp (KoRes) managed to brush away concerns about Moody’s decision to review its rating for a downgrade, raising more than expected from its latest bond outing. The deal’s high quality order book stood out when compared with some other recent transactions from peers.
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France is preparing its first dual tranche trade, targeting the 20 and 50 year parts of the curve, while bankers expect the European Stability Mechanism to aim for a shorter tenor this week.
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Korea Resources Corp (KoRes) is poised for its first appearance of the year in the international bond market, opening books on Monday for a Reg S dollar offering.
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BBVA launched the first euro denominated AT1 transaction since February’s sell-off this week, pricing the bond through its outstanding notes’ yield to call and fuelling hopes the primary market is fully open once more.
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BNP Paribas sought out German institutions for a long six year senior unsecured trade on Tuesday, reviving the concept of a “regionally targeted" bond to attract smaller accounts.
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Maybank opened its $400m five year bullet loan to retail participation on Thursday after expanding the mandated lead arranger and bookrunner group.
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Singapore-based wastewater treatment company Hyflux has cut the size of its loan to $224m after failing to muster enough demand.
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Banca Popolare di Vicenza on Thursday launched premarketing for its €1.5bn IPO and capital increase, after a period of uncertainty when UniCredit, the underwriter, had cast doubt on whether it could be completed by the end of April deadline.
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Inter-American Development Bank (IADB) on Tuesday threw open the door for dollar issuance as the second quarter of the calendar year kicked off, with several other issuers eagerly following.
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The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.
