BNP Paribas

BNP Paribas has shaken up its London high yield sales effort with several staff moves, in an efficiency drive and attempt to align cash and derivative coverage more closely.

Rumours are swirling that Chinese company Giant Interactive, which wrapped up a $850m leveraged buyout loan only last year, is considering prepaying the money early.

BNP Paribas’s debut additional tier one (AT1) deal caused an argument between rival FIG syndicates on Wednesday. Some hailed the maturity of the asset class in a tough market while others questioned what they saw as aggressive pricing.

Public sector bond markets are under threat from violent price moves and low liquidity for months to come, warned SSA bankers, after government bonds sold off sharply on Wednesday.

Inter-American Development Bank and KfW have got away with pricing dollar benchmarks of identical tenors on the same day although neither borrower tightened pricing from the initial price thoughts level.

Bpifrance is looking to revive the 15 year part of the euro curve, as SSA issuers and bankers heed European Central Bank president Mario Draghi’s advice to endure volatility.

Two first time bond issuers joined the corporate pipeline on Tuesday, with TDF Infrastructure and the University of Liverpool preparing to debut, despite a choppy primary market.

Sealed Air, the US packaging company, is meeting investors in London since Tuesday to market its first euro bond, part of a refinancing of its notes due 2021.

Korea Hydro & Nuclear Power (KHNP) raised $300m on June 8 as it continued its tradition of tapping the international bond market at least once a year since 2010.

A pair of issuers hit screens on Monday with five year mandates in dollars — and with initial price thoughts within a couple of basis points of one another.

Investment grade companies held back from Europe's bond market on Monday, with the only new prospect of issuance coming from Ghelamco, a Belgian property developer, which will roadshow later this week.

A senior emerging markets banker has quit BNP Paribas to move to JP Morgan.