BNP Paribas
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India's IDBI Bank is looking to issue the second dollar-denominated green bond from the country, taking bids for a five year offering on November 23. -
A tiring but positive week for syndicate bankers ended in a flurry of deals on Friday, as four issuers bathed in the ebullient tone of the corporate bond market.
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Groupe BPCE launched its first tier two deal of the year on Friday, taking advantage of a buoyant market requiring slimmer new issue premiums.
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Korean Air Lines has raised $300m from a hybrid bond that came with a guarantee from the Export-Import Bank of Korea (Kexim). But the issuer’s credit fundamentals posed a challenge, with investors split over finding the best comparable for the notes.
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BNP Paribas moved beyond its capital raising plan for 2015 this week as it launched its third tier two transaction of the year, bringing it close to fair value.
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Groupe SEB, the unrated French domestic appliances manufacturer, pulled in a €2.5bn order book for a €500m no-grow bond on Wednesday.
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A trio of issuers from Finland and Sweden raised €3.5bn of funding in the covered bond market this week with strong receptions and limited spread concessions.
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Another week, another couple of difficult Middle East deals for the CEEMEA market. Bahrain and International Bank of Qatar hit the sizes they wanted but found that pricing stuck stubbornly at initial price thoughts, with international investors beginning to close up shop for 2015.
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Réseau de Transport d’Électricité issued a benchmark 10 year bond on Thursday that grew to €1bn, as a French-driven order book for the bond hit €3.5bn.
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European Investment Bank has launched a rare, privately placed index linked Climate Awareness Bond, while World Bank is offering retail investors the chance to buy similarly structured green paper.
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Demand was so strong for an agency bond tap on Thursday that the leads had to ask the issuer to increase the deal, as SSA investors scrambled to get their hands on one of the last large issues of the year.
