BNP Paribas
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State-owned MFB Hungarian Development Bank finished a roadshow on Wednesday for its first euro bond for four years, and has picked a tenor. But market turmoil has left it facing unacceptable spreads, and waiting for a better window.
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Bank Rakyat Indonesia (BRI), which picked a consortium of 11 banks to supply its $550m financing, held a meeting for the lenders on June 8, said bankers. The Indonesian firm was initially looking for $400m but raised the size of the borrowing following a healthy response. -
Toronto Dominion Bank was this week able to muster strong demand for a five year covered bond which priced cheap to Royal Bank of Canada’s seven year, which struggled.
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Borrowers in the sovereign, supranational and agency sector could find their funding plans rocked by whipsawing government bond yields for months to come.
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Two equity accelerated bookbuilds were conducted in Europe on Tuesday evening. One was a private equity selldown of Thule – but more unusually, Capgemini raised €500m for an acquisition, at a 2.9% discount.
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Grupo Antolin, the Spanish car interiors maker, on Wednesday sold €400m of notes at 5.125% to repay a $525m bridge loan that funded its purchase of Magna International's car interiors business.
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Neopost, the French postal machinery maker that has used a wide variety of financing markets in recent years, issued its third convertible bond on Thursday June 11, in an unusual structure that will give it equity credit.
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Two first time bond issuers joined the corporate pipeline this week, with TDF Infrastructure and the University of Liverpool preparing to debut, despite a choppy primary market.
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Europe's investment grade corporate bond pipeline swelled even more on Thursday, though the primary market stayed silent, as HJ Heinz announced a roadshow to prepare funding for its merger with Kraft.
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Oi, the Brazilian telecoms company, is seeking to issue a €500m high yield bond, and buy back four old euro bonds.
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Chinese online gaming company Giant Interactive, which wrapped up a $850m leveraged buyout less than one year ago, will prepay the money this month.
