BNP Paribas

BNP Paribas has appointed Peter Kwok as chief executive officer of BNPP (China) on the back of rising demand from clients in China for sophisticated financial services. Kwok’s new role will take effect from December 11.

GTech, the Italian gambling equipment maker, has further reduced its bridge facility for the acquisition of US competitor International Game Technology, down to $6bn.

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.

A $3.2bn piece of Tata Steel’s $5.6bn multi-trancher has attracted a whopping $1.089bn in commitments during general syndication. The response follows a successful senior phase, which saw eight banks pile in.

Danish telecoms firm TDC, which acquired Norwegian cable provider Get in October, is reported to be planning another acquisition in the cable sector. TDC will need to carefully consider acquisition financing options to maintain its investment grade status, said credit analysts.

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.