BNP Paribas
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Korea Development Bank (KDB) staged a successful return to the international debt market on September 9, selling an SEC registered 10 year trade. The policy bank’s success is expected to encourage more Korean names to follow suit, but bankers are not necessarily expecting a rush of issuance. -
Tractel, the French maker of lifting machines being bought by Cinven, held a bank meeting on Wednesday morning, to present to potential investors the terms of its new €235m all senior loan package.
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A pair of supranationals have unveiled plans to bring bonds with an environmental flavour. One issuer may delight European Central Bank officials with a super rare appearance in euros.
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A pair of Asian agencies have tackled the long end in dollars, but despite attracting big order books and setting spreads at the tight end of guidance, bankers stressed the deals should not be taken as a sign that the dollar market is back to full strength.
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The Association for Financial Markets in Europe has elected Michael Cole-Fontayn, executive vice-president at BNY Mellon, as chairman of the board.
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Asian bond issuers have finally decided to venture back into the market with a trio of investment grade names opening books to dollar deals. Export-Import Bank of China (Chexim), Shanghai Pudong Development Bank and Korea Development Bank are vying for attention in the first test of investor demand in three weeks.
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OSN, the Dubai-based subscription television company, has signed its second syndicated loan for $400m, which was twice oversubscribed.
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Telecoms company Telefonica was one of two Spanish corporates to tap the euro market on Monday. Gathering a solid order book despite a minimal new issue premium, Telefonica appeared unaffected by any concerns regarding upcoming elections in Spain.
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Sumitomo Mitsui Banking Corporation has splashed out in euros, raising €1bn with a private club deal, its largest bond in the currency.
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Bankers and funding officials this week might have been tempted to strap on a blindfold at points during the execution of the only dollar benchmark in a fortnight.
