BNP Paribas
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Holding Slovenske elektrarne (HSE), the largest electricity provider in Slovenia, will begin roadshowing its high yield debut bond on Tuesday, as market conditions recover from a bruising start to the year. -
Kuwait Projects Company (Kipco) will open books on a seven year bond after completing investor meetings on Monday.
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Saka Energi Indonesia, the upstream oil and gas arm of state-owned Perusahaan Gas Negara, has signed its $600m loan, finding demand from seven lenders in syndication.
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BNP Paribas reopened the euro tier two market on Friday with a sharply priced trade, the first capital deal of any sort from a European bank in over seven weeks.
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South Korea’s Shinhan Bank has mandated five banks for its bank capital debut in the international bond market.
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Korea Resources Corp (KoRes) is set to make its first appearance this year in the international bond market, having mandated four banks to work on a dollar offering.
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Telefonica’s €600m equity-neutral convertible bond, launched and priced on Wednesday, proved controversial and had to be restructured mid-sale, highlighting the discomfort many investors feel with some of the currently fashionable CB structures.
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Technip, the French oilfield services and engineering group, launched on Thursday evening a €75m tap of its €375m equity-neutral convertible bond, issued in January, for a further €75m, after the bond and stock had traded up strongly.
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Bankers and investors are preparing for a busy week ahead as four CEEMEA borrowers announced mandates and roadshows this week.
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Five year bonds continue to dominate the public sector dollar market, with the World Bank and European Investment Bank securing oversubscribed books at what is proving to be the sweet spot for the currency.
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Two Turkish bond deals this week were seen as a welcome treat for investors starved of recent supply from the country, and more is still in the pipeline.
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Banks are making their commitments for ED&F Man's annual loan refinancing and no banks have declined to roll over their commitments yet, according to a lead banker.
