BNP Paribas
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BBVA is looking to cut the cost of raising additional tier one capital on its third such transaction in two years, announcing initial price thoughts of high-6% area for a perpetual non-call five year trade in euros, compared to the 7% it paid to sell a euro perp non-call five year in February 2014.
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The bid for Hindustan Petroleum Corp’s (HPCL’s) latest loan has been won by a group of seven banks. The syndication strategy for the refinancing is still being worked out and the deal is in its early days, with the mandate having been decided only last week, said bankers. -
The Spanish government is set to price its privatisation of Aena, the state airport operator, this evening. The flotation of a 49% stake has attracted strong demand and looks set to be a big win for the government, potentially netting it up to €4.26bn.
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Electricity Supply Board, the Irish power company, has amended and extended a €1.44bn loan facility with Intesa Sanpaolo and Santander joining the syndicate for the first time.
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Tentative allocations are out for Indonesian oil and gas company Pertamina’s five year fundraising. The loan has been closed at a size of $1.747bn, with the dozen banks at the top that prefunded the money managing to sell down as per expectations, said bankers close to the transaction.
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Redes Energeticas Nacionais, the Portuguese electricity and gas transmission operator, extended its bond curve by five years on Thursday with a €300m 10 year issue, getting strong demand as spreads tightened sharply.
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Eltel Networks, the Swedish company that provides technical services for power, communication and transport networks, priced its €304m IPO near the top end of the range on February 6, before shooting up 10% when it began trading.
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Qingdao City Construction Investment (QCCI) became the first city-government-owned enterprise from China to tap the offshore market on February 5, raising $800m in the process. Despite being the first of its kind, investors were receptive towards the credit, which led to the inclusion of an extra tranche.
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Investors flocked to Industrial and Commercial Bank of China Luxembourg's three year floating rate note on February 5 having been enticed by a considerable new issue premium. While the $5bn order book was impressive, the transaction stands out more even more for being the first single tranche FRN out of Asia ex-Japan.
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Eltel Networks, the Swedish company that provides technical services for power, communication and transport networks, is set to price its IPO on Friday morning, having closed the book at noon London time on Thursday.
