BNP Paribas
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Emerging markets bankers were treated to a new name on Monday as Banque Ouest Africaine de Développement (BOAD) announced a roadshow for its debut bond.
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South Korea’s Kookmin Bank has selected four banks to run a potential return to the covered bond market, but a source at the issuer said that due to unfavourable market conditions, there’s a possibility that the deal will not materialise. -
A strong start to public sector dollar issuance in 2016 fell away this week, as volatile swap spreads returned and worries over the health of the Chinese economy made printing further along the curve difficult.
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La Financière Atalian on Tuesday sold the first European high yield issue of the year, but the market has yet to display a convincing pipeline, in the eyes of bankers and investors.
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Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its debt burden and oil companies cutting back on exploration.
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Covered bonds issued this week from Lloyds and Bank of Nova Scotia were among the largest seen this year and attracted the biggest order books.
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Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its $2.5bn net debt burden as oil companies cut back on exploration.
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Plans to create a new tier of debt in France has put minds at ease about the status of existing senior bonds, bolstering their performance and clearing the way for what could be a very busy year for French banks.
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The Iberian Peninsula was host to a duo of barnstorming sovereign benchmarks this week, but there was no consensus among bankers over whether they signified an appetite for sovereigns at the lower end of the European credit quality spectrum.
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Euro issuance had been subdued this week, with issuers reluctant to clash with AB InBev's $46bn deal, but it picked up hours before the brewer's launch on Wednesday.
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A series of oversubscribed deals among core issuers could encourage Austria to seek a print in the current market.
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A trio of Spanish issuers launched the first covered bonds of the year from southern Europe this week but, with peripheral spreads widening sharply, conditions are not conducive to further supply.
