BNP Paribas

As the half year point of 2015 approaches, year to date CEEMEA volumes are at their lowest in six years. No bookrunner has escaped the plunge unscathed. But some have suffered more than others, and a rare few have taken a larger share of a shrinking CEEMEA market.

Korea is hoping to get its first taste of covered bonds since a new act came into force in April 2014, with Kookmin Bank scheduled to meet investors next week.

Bpifrance managed to increase a 15 year deal from its target size on Wednesday despite rocky government bonds markets, but had to print at the wide end of guidance and initial price thoughts.

CMA CGM, the French shipping group, raised €175m on Tuesday by tapping its €550m senior unsecured bond, sold on Wednesday last week, when it abandoned a planned dollar tranche.

Henri Foch, head of financial institutions coverage at BNP Paribas, has retired from the bank after more than 30 years in banking. Custody banker Jose Placido will take over running FIG coverage.

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.