BNP Paribas

Merck & Co, the US pharmaceutical company, launched its first bond in euros for seven years on Monday, just days after its €1.5bn deal from 2007 had matured. With markets recovering after a queasy time last week, the €2.5bn issue was widely seen as a success by rival bankers.

Strong domestic support allowed unrated Austrian metals group Voestalpine to increase its seven year euro market return to €400m on Wednesday, despite substantial price tightening.

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Czech Raiffeisenbank has mandated leads for the first publicly distributed euro-denominated benchmark Czech covered bond, which is expected to be launched following a roadshow. The transaction, which is eligible for repo with the European Central Bank and documented under English law, is likely to be followed by a string of other euro denominated Czech covered bond benchmarks.

Infra Foch, a company formed to buy French car park operator Vinci Park, attracted more than €4bn of orders for a dual-tranche bond market debut on Thursday.

Sinobiz Holdings has mandated a group of 11 banks to lead its latest $1.5bn commodity prepayment financing and refinancing loan.

State owned Korea Water Resources Corporation (K-water) has returned to the offshore debt market for the first time in nine years, pricing a $300m bond on October 8.

Chinese pork producer WH Group has had an eventful year. In July it finally managed a successful debut on the Hong Kong Stock Exchange after two abortive attempts. Now it is back in the capital markets, with a $1.5bn refinancing for a controversial loan it raised last year for its acquisition of Smithfield. Fortunately for the borrower, the new deal looks like it will go without a hitch, writes Shruti Chaturvedi.

BNP Paribas on Monday leaped through a narrow window and avoided a souring in sentiment later in the week to sell its second tier two deal in euros this year.

BNP Paribas took advantage of improving sentiment and strong demand from US investors to print its first dollar tier two trade since 2005, while also issuing in euros (see separate story).

Unibail-Rodamco, the French property company, achieved tight pricing on its latest eight year euro issue thanks to strong demand from across continental Europe.

GM Financial, the finance arm of General Motors, finally emerged with its long-awaited euro debut issue on Wednesday.