BNP Paribas

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Det Norske Oljeselskap, the Norwegian oil exploration company, has obtained a $500m revolving credit facility from seven banks and is considering issuing bonds.

Investors maintained discipline on Wednesday when Ford Credit Europe Bank issued a €500m five year bond, with some dropping out of the deal after moderate pricing revisions.

As block trade bankers had predicted, the fireworks are starting again as companies emerge from blackouts. Five deals totalling €2.8bn were in the market on Wednesday night, but there were no auctions: all of them were mandated trades, leaving banks away from the action with nothing to bid on.

German airline Deutsche Lufthansa has held an investor call for its postponed hybrid capital bond issue, after making a €133m operating loss in the first quarter of 2015, smaller than a year ago.

Steel company ArcelorMittal has refinanced a $6bn revolving credit facility, with heavy oversubscription.

Xella, the German building materials manufacturer, has closed books on a €533m refinancing and amend-and-extend loan procedure that was oversubscribed, allowing for price cuts.

Eircom, the Irish telecoms company, has arranged an investor call for a €2bn amend-and-extend process on its loans, that will bring documentation into line with market standards.

NH Hotel Group, the Spanish hotel chain, has pulled its €200m senior unsecured bond issue.

Santander Chile took advantage of a lack of international supply in Swiss francs to print a tightly priced new seven year on Tuesday.

Dufry – HES Beheer – BCA Marketplace – Club Med – Grupa Azoty – International Bank of Azerbaijan – Kungsleden – UBM Group – Oriflame

Time Warner is the latest of several investment grade US companies to have hired banks for a euro bond recently, despite the high cost of swapping euro bond proceeds into dollars.