BNP Paribas
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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.
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NH Hotel Group, the Spanish hotel chain, has pulled its €200m senior unsecured bond issue.
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Santander Chile took advantage of a lack of international supply in Swiss francs to print a tightly priced new seven year on Tuesday.
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Dufry – HES Beheer – BCA Marketplace – Club Med – Grupa Azoty – International Bank of Azerbaijan – Kungsleden – UBM Group – Oriflame
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.