BNP Paribas

OUE Hospitality Trust’s S$238.6m ($175.7m) rights issue has been a big success, with shareholders signing up for 1.4x the shares on offer, according to a company filing.

Eni issued a €400m convertible bond on Wednesday that had to be reduced in size and repriced at worse terms for the issuer. The deal was an important test of whether there is still vigour in the spate of equity-neutral convertible bonds following the European Central Bank's unleashing of quantitative easing on the corporate bond market on March 10.

The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.

The European Union proved that for the right issuers there is considerable demand at the 15 year point of the curve, with the Joint Länder planning a return to the market with a seven year benchmark for the first time since a mooted deal in February stalled.

ING has taken up the challenge of printing debt amid uncertainty over the Netherlands’ approach to total loss absorbing capacity (TLAC) requirements, while primary FIG activity has ridden out a secondary market blip.

Fosun Industrial is close to signing a syndicated loan at a smaller size of $500m, more than six months after the trade launched.

ArcelorMittal’s $3.015bn rights issue, as part of its $4bn debt cutting plan, was completed oversubscribed, the steelmaker said on Monday, despite the gloomy outlook for the European steel industry.

The Inter-American Development Bank highlighted the depth of demand in a resurgent dollar market by printing the largest benchmark in the currency in over a month — with KfW next up to test the dollar’s depth.

BNP Paribas targeted German institutions for a long six year senior unsecured trade on Tuesday, reviving the concept of a “regionally targeted" bond to attract smaller accounts.

AkzoNobel, the Dutch paints, coatings and chemicals company, issued a €500m 10 year bond last Friday that achieved a deeply negative new issue premium, as investors piled in ahead of the European Central Bank’s expected corporate bond buying programme.

The remarkable conditions in Europe’s corporate bond market since the European Central Bank trained its quantitative easing firehose on the market were clear again today when Federal Express, the US deliveries group, raised €3bn to finance its purchase of Dutch peer TNT Express.

The Inter-American Development Bank made an early claim on Monday for a spot in this week’s dollar issuance, in what its leads said was a move to ensure it did not add its name to a growing trend for SSA deal clashes.