BNP Paribas

Arcelik, a Turkish home appliances and consumer electronics company, has mandated BNP Paribas, Citi and HSBC for a euro-denominated Reg S bond. The deal will mark the first ever bond in the currency for a Turkish corporate.

You do not spend just short of two decades in two of Europe’s top debt capital markets syndicate teams if you crumble under pressure.

BMW reopened the European benchmark investment grade corporate bond new issue market on Tuesday with a punchy €1.75bn deal that sent a strong signal: spreads — and especially yields — for corporate issuers are set for a very tight autumn. BMW paid a coupon of just 0.5% on its €1bn four year tranche. But despite these pitifully thin yields, investors are eager to buy.

Mergers and acquisitions are set to be an important driver of corporate bond issuance this autumn. Deal mandates are already building up — in fact, M&A is the driver for virtually all the deals that have yet appeared in Europe’s corporate bond pipeline this season.

Agence Française de Développement has hired banks to arrange a string of investor meetings in Europe before a potential debut climate bond in euros.

Svenska Handelsbanken prefaced what is expected to be a busy September for Samurai issuance on Thursday. The issuer drew an oversubscribed book for a five tranche deal, with more deals expected to follow as issuers look to take advantage of a favourable basis swap.

Volvo was the only corporate borrower to issue a bond in euros last week. On Thursday this week, it sold another one, confounding expectations in some quarters that last week’s €300m tap would be the last of its funding this year.

Volvo was the only corporate borrower to issue a bond in euros last week – today, it sold another one, confounding expectations in some quarters that last week’s €300m tap would be the last of its funding this year.

Svenska Handelsbanken sold its second ever Samurai print on Thursday, drawing a comfortably subscribed order book for a five tranche deal. BNP Paribas is expected to follow the issuer into the yen market next week, helping boost an already strong year for Samurai volumes.

The Republic of South Africa has set investor meetings in September for its debut international sukuk, solidifying its plans to issue among the flurry of sovereign Islamic notes expected before the end of this year.

Perusahaan Gas Negara has wrapped up its $650m club loan with eight banks. Allocations for the deal’s onshore tranche stood at $590m, while those for the offshore tranche were $60m.

Indian company Rural Electrification Corp has launched into general syndication the $170m greenshoe portion of its five year loan. The funds for the original $230m have already been provided by the six bookrunners and mandated lead arrangers and the $170m greenshoe is being syndicated on a best efforts basis.