BNP Paribas

BNP Paribas has made the next move in its merger of its high yield and leveraged finance operations, moving three people into new positions under Charlotte Conlan.

Elis, the French workwear and bed linen laundry company, priced an €800m bond on Wednesday, its first issue since its €750m Paris IPO in February, to refinance in full its senior secured and subordinated notes.

FirstRand has launched its $500m bond at with a spread of less than 100bp over the Republic of South Africa, with the order book for the deal having closed at $1.9bn.

Norwegian airport operator Avinor issued a €300m 10 year bond on Wednesday, but demand for the single-A, state-owned credit was lower than expected.

Korea Resources Corp (KoRes) has started receiving bids for a return dollar bond this week. The Korean borrower aims to raise $300-$500m from the new trade as it has an outstanding $300m bond that comes up for redemption next month.

Jingrui Holdings has returned to the dollar bond market this week, wooing investors with generous initial pricing for a three year bond. Although secondary Asian high yield bonds didn’t take a hit from the Kaisa defaults earlier this week, bankers on the deal hope Jingrui will benefit from the post-Kaisa quiet HY market.

Unrated French laboratory testing company Eurofins Scientific has issued a €300m hybrid bond without a roadshow. It was the company’s fourth hybrid bond issue.

UK property firm Hammerson has refinanced a £415m revolver, cutting the margin from 150bp to 80bp.

FirstRand finishes the roadshow for its senior bond on Tuesday and is likely to release initial price thoughts on Wednesday.

Euro supply from public sector institutions is being stifled by a double whammy of ultra low yields in the currency and escalating tensions over Greece's financial future.

JAB Holding, the investment company of the Reimann family that owns fashion brands Jimmy Choo, Bally and Belstaff, has mandated banks for its second euro bond.

Avinor, the 100% state-owned company which operates most of the civil airports in Norway, held an investor call on Tuesday for a 10 year euro bond.