BNP Paribas

Publicis, the French PR and advertising firm, issued €1.2bn of bonds on Tuesday, equally split between seven and 10 year tranches. The proceeds will be used to fund its acquisition of US marketing and consultancy company Sapient.

German pharmaceutical company Merck issued its first hybrid bond, a €1.5bn dual tranche deal, on Monday, less than a week after Volvo issued its first piece of hybrid capital. Merck's notes carry a 2.625% coupon, a record low for corporate hybrid issuance.

Moody’s has downgraded the corporate rating of Spie, the French engineering and communications services firm, from B1 to B2 in response to a €2bn refinancing exercise.

Shanghai listed textile dye maker Zhejiang Longsheng Group (Lonsen) has raised a $300m loan from a club of seven banks, said a banker on the deal.

Constellium, the Paris-headquartered aluminium producer, launched a €535m-equivalent bond on Friday December 5, to back its plans to buy US drinks can sheet manufacturer Wise.

Spie, the French engineering and communications firm, gave price guidance for its €911m loan at a London bank meeting on Monday.

Volvo joined the growing group of corporate issuers of hybrid capital on Wednesday, when it priced its first hybrid bonds. The deal was popular with investors, generating €7.4bn of orders.

Danfoss, the Danish mechanical and electronic engineering company, issued its first public bond on Thursday, to fund its €1bn acquisition of Finnish rival Vacon.

BNP Paribas declined the mandate for Thursday's Ethiopia bond for compliance reasons, according to three sources familiar with the situation.

Didier Leblanc, head of loan syndication and trading, Asia Pacific, at BNP Paribas, will leave the bank in January, according to a source.

Pricing for a S$1.3bn ($991m) loan to back the acquisition of Vietnamese state owned Saigon Beer Alcohol Beverage Corp (Sabeco) has come in low, said bankers. Singaporean company Fraser and Neave (F&N), which is borrowing the money, has split the fundraising equally between a term loan and a bridge.

Volvo joined the growing group of corporate issuers of hybrid capital on Wednesday, when it priced its first hybrid bonds. The deal was popular with investors, generating €7.4bn of orders.