BNP Paribas

Vallourec, the French oil and gas pipeline maker, issued a €500m 10 year bond on Tuesday after building a book of €3.1bn, despite a jittery day for the equity market.

Larsen & Toubro (L&T) reopened the Indian equity-linked market by selling a $200m convertible bond on Monday night — the first CB from the country in nearly two years. But while the deal signals a revival of this asset class in India, L&T’s transaction was priced aggressively, with bankers away from the trade suggesting that feedback from investors was completely ignored.

Zhejiang Provincial Energy Group Company (ZPE) brought out its debut international deal on Tuesday, opening books for a Reg S three year dollar bond.

The start of the Shanghai-Hong Kong Stock Connect collaboration between the two cities’ exchanges will open a number of arbitrage and thematic trading opportunities, such as playing the different effects on the China A and H-share market.

Vallourec, the French oil and gas pipelines maker, is set to issue a €500m no-grow 10 year bond on Tuesday.

BNP Paribas has promoted Yann Gérardin to head of corporate and investment banking, replacing Alain Papiasse, who will continue as deputy COO but take over representing group general management in North America.

Japan’s Suntory Holdings has mandated six banks for what would be the company’s inaugural dollar deal. The brewer and distiller is looking to make a dual tranche dollar issue.

Agile Property Holdings is looking to raise HK$2.785bn ($359m) from a one-for-five rights issue, becoming the third Chinese property developer to opt for this form of equity raising in just the past month.

Reliance Industries’ telecom arm Reliance Jio Infocomm launched its $1.5bn dual facility refinancing loan into general syndication on Friday, after cementing a mandated lead arranger and bookrunner group with 15 banks.

Rating: Aaa/AAA/AAA

International Finance Corp became the largest issuer of London-listed renminbi bonds this week, as it priced its second benchmark in the currency this year. The deal came after the UK government announced plans to issue a debut renminbi bond.

Royal Bank of Canada and Toronto Dominion returned to the dollar covered bond market this week, taking the number of benchmark issues in the currency this month to four. The two $1.75bn triple-A five year deals priced at 27bp and 29bp over mid-swaps, respectively. While the two deals became joint largest dollar deals this year, it was RBC’s deal was the tightest in dollars for several years.