BNP Paribas

Spanish hotel chain NH Hotels was set to sell on Thursday €200m of senior secured notes with initial price talk of 4.25%-4.5%, part of an aggressive debt reduction strategy.

BNP Paribas made an opportunistic move to price the tightest ever 10 year from a French bank on Tuesday. It was also the first 10 year covered bond issued in more than a month.

Bank of Ireland paid a decent 3bp-4bp new issue premium for its seven year covered bond on Tuesday. Despite that, it was the issuer’s least subscribed deal since 2012.

Banco Popolare’s window of issuance for the tier two deal it has been roadshowing has closed, with the issuer set to avoid the primary market ahead of reporting earnings.

Rampant growth in BNP Paribas’ investment banking revenues helped drive the overall group’s pre-tax income up nearly 20% year-on-year to €2.552bn during the first quarter of 2015.

Li Ka-shing’s Cheung Kong Property is scheduled to sign its reorganisation loan at a reduced size of HK$40bn ($5.16bn) with 28 lenders. The trade, which started out at HK$55bn, was heavily oversubscribed as 28 banks piled in with commitments of at least HK$5bn each.

UK publisher Pearson has followed up its successful return to the euro bond market last year with a tightly priced 10 year, almost five times oversubscribed.

Bristol-Myers Squibb has returned to the European bond market, issuing 10 and 20 year bonds to replace its existing euro bonds maturing in 2016 and 2021.

UBM Group, the UK marketing and communications company, has signed a £400m five year revolving credit facility with its core relationship banks.

Bristol-Myers Squibb held an investor call for a euro bond on Tuesday after its first quarter 2015 results announcement. The US pharmaceutical company completed a European roadshow just before Easter.

Low-cost airlines VietJet Air has signed up three banks to co-ordinate a planned $200m-$300m IPO, with decisions about which exchange to list the shares still up in the air.

BNP Paribas has made a new hire in its EM credit strategy team and promoted a member of its EM sales force to global head of local market credit sales.