BNP Paribas
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Municipality Finance brought the first dollar benchmark since a big sell-off in Chinese equities on August 24 sparked volatility in global equity and credit markets, roiling issuance conditions for public sector borrowers in dollars.
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Portugal attracted more than €5.5bn of demand for the first syndicated deal from a peripheral sovereign since mid-June on Wednesday. -
Poland made sure CEEMEA was not left out of the September restart rush on Wednesday, but more traditional emerging markets are likely to be left sidelined until after the US Federal Reserve decides to raise interest rates, said debt bankers.
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A eurozone agency is set to brave a dollar market that suffered volatility last week. And despite improved conditions, the issuer opted for a conservative maturity.
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Portugal will become the first eurozone periphery sovereign to test the post-summer syndication market — but its choice of tenor has been limited by several weeks of turmoil in global markets.
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UK energy company SSE opened up the week’s issuance for corporate bonds on Tuesday, overcoming less-than-ideal market conditions to gather a solidly oversubscribed order book for an eight year bond.
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KfW showed public sector issuers exactly what it takes to get euro investors reaching into their pockets this week — a hefty new issue premium, writes Tessa Wilkie.
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The corporate bond pipeline for September swelled rapidly over the course of this week, with no less than six companies hiring banks for roadshows in the near future.
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Since Yann Gérardin took over as boss of the investment bank at BNP Paribas, the bank has been all about combinations. Strip out the corporate speak, and the big changes are a merger of equities and fixed income in the markets division, and a merger of loans and bonds in primary markets. GlobalCapital caught up with Renaud-Franck Falce, who runs the combined corporate debt team, to find out how the new approach is working.
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Banque Fédérative du Crédit Mutuel has burst back into the market shortly after a summer blackout, raising €600m with a spree of floating rate medium term notes.
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The Schuldschein for German healthcare group, Asklepios has been increased from €250m to around €600m after oversubscription from investors, according to a banker on the deal.
