BNP Paribas

China’s Bohai Steel Group and Universal International Leasing made it a busy day for the CNH market on November 11 as reverse enquiry from investors led the issuers to tap their existing bonds for a combined Rmb1.1bn ($179m).

China High Speed Transmission Equipment Group, the nation’s largest manufacturer of wind power transmission gearboxes, had already more than enough orders for its maiden offshore renminbi bond by late afternoon Wednesday.

E-commerce firm Alibaba Group, which signed a $3bn revolving facility with four lenders on August 30, has allocated the financing following a limited syndication. The loan, which features looser covenants than Alibaba’s last fundraising, has set a precedent for future financings by the company, as well as for revolving credit facilities in Asia.

Faurecia, the French car parts manufacturer, has refinanced a €1.15bn undrawn loan facility, hiring 10 banks.

Mediobanca rounded out a week of revival for the senior market on Friday, selling a three year euro benchmark. The deal replicated the success of several other prints earlier in the week, allowing the Italian bank to sell the first senior print from southern Europe in almost half a year.

Books for Poland coal firm, Kompany Weglowa’s bond closed on Friday but with no update as yet on pricing, bankers away from the deal have become curious as to whether the deal has been postponed. But the bond is still live, said a syndicate official on the note.

A senior medium term note and private placement trader has resigned his position at BNP Paribas.

On Friday Nestlé extended by a year €5bn five year revolving credit facility it had signed in October 2013. The Swiss foods producer also replaced a €5bn-equivalent short term facility with a new facility of €6bn.

Reliance Jio Infocomm’s $1.5bn dual tranche loan that opened in September has received around $280m in commitments from five lenders during general syndication. At least five more banks are processing approvals for the loan and the deadline for commitments has been extended to November 24 to allow them to come in.

BNP Paribas’s traditional strength in fixed income paid off in its third quarter numbers, as the return of volatility in September allowed it to turn in a solid performance in FX and rates. Meanwhile French rival Société Générale had a tougher quarter thanks to sliding equity volumes, though it still reported strength in its market-leading equity derivatives business.

Council of Europe crowned a week of tightly priced deals from high quality issuers in dollars with the first benchmark to reach the five year point of the curve since the dollar market was engulfed in volatility in mid-October. Sweden kicked off proceedings with an oversubscribed three year that came at the deepest level through mid-swaps for a deal of that tenor all year.

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