BNP Paribas

Société Foncière Lyonnaise (SFL) brought a €500m seven year offering to market on Thursday, bagging an order book over €3.5bn.

BNP Paribas defied the gloom that characterised the third quarter investment banking revenues reported by its French peers over the last week, all of which posted revenue falls in their investment banking divisions.

BorgWarner, the US car engine and drivetrain maker, furthered the return of reverse Yankee bonds to Europe's corporate market on Monday, by issuing a €500m seven year no-grow deal.

Bankers are expecting the Financial Stability Board (FSB) to loosen up its final total loss-absorbing capacity (TLAC) rule, set to be published on Monday, after the Federal Reserve published its own draft consultation of the rule last week.

David Spegel has joined ICBC Standard Bank as head of global EM strategy.

In a departure from recent tactics, the Export-Import Bank of Korea (Kexim) launched its most recent bond with a generous price guidance. But the gamble paid off as the borrower attracted a record order book and got away with paying only a small concession.

Predicting the future, especially in banking, is a fool’s game. Only this time, seven years on from the collapse of Lehman Brothers, it is becoming increasingly obvious — thanks to regulation and technology — what banking will look like in 2020. Owen Sanderson reports.

Nineteen eurozone countries with as many legal systems, 23 officially recognised languages, 3,500 banks and just one supervisor. Sceptics say the ECB’s Single Supervisory Mechanism (SSM) has an impossible task. In the first year alone, it has achieved an enormous amount, but the hard work may be just beginning, writes Virginia Furness.

Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.

BNP Paribas sold its last remaining shares in Klépierre, the French property company, for €829m on Monday night, in an accelerated bookbuild.

A trio of SSA issuers made moves to mop up short end dollar demand on Tuesday. NRW Bank printed a $1bn bond and two others mandated for deals.

Snam, the Italian natural gas transmission company, priced a €750m eight year bond on Tuesday, its first issue since it was added to the list of bonds that the European Central Bank will buy as part of its public sector bond purchase programme, or quantitative easing.