BNP Paribas

BNP Paribas was in the spotlight on Thursday as it posted the largest loss in its history, but underneath the red numbers — caused by a huge fine for violating US sanctions — was a very strong performance.

7 Days Group Holdings has closed its fundraising at $300m, fully exercising a $50m greenshoe, as the deal was oversubscribed thanks to relationship banks piling in.

Tata Steel closed its first international bond on Thursday, July 24, as it looks to refinance loans from its 2008 acquisition of Corus. Despite pricing on a day when the Indian high yield sector saw $2.4bn of new issues, the trade nonetheless pulled in bids worth $9.1bn.

Taiwan Cement Corp’s $1bn loan, which launched into syndication at the beginning of July, is expected to go up in size after getting a great response. Ten banks have already committed to the deal and 10 more are processing their approvals, according to bankers.

BNP Paribas faced the wrath of the covered bond market this week after successfully placing a debut trade for Banca Popolare di Sondrio (BPS). Despite the €500m five year attracting more than 50 orders, worth €1.1bn, not one rival banker or investor had a good word to say about the syndication.

Continental Foods, the Belgian food producer, has allocated its €425m cov-lite loan to pay a dividend to owner CVC Capital Partners.

Générale de Santé, the French private healthcare provider, allocated its €1.1bn acquisition loan on Tuesday after cutting the margin on the term loan ‘B1A’ to 350bp over Euribor.

Bankers now hope to complete a €275m acquisition loan for Bulgarian drugs firm Huvepharma this week after extending the deadline to wait for Moody's and Standard & Poor's to provide ratings.

Kosmos Energy, the New York listed oil and gas exploration firm, priced its $300m debut bond on Friday at par to yield 7.875%.

Taiwan Cement Corp’s $1bn loan, which launched into syndication at the beginning of July, is expected to go up in size after getting a great response. Ten banks have already committed to the deal and 10 more processing their approvals, according to bankers.

7 Days Group Holdings has closed its fundraising at $300m, opting to fully exercise a $50m greenshoe, as the deal was oversubscribed thanks to relationship banks piling in.

Tata Steel raised $1.5bn with its inaugural transaction on Thursday, as it looks to refinance loans incurred as a result of its $13.1bn acquisition of Corus in 2008. Despite pricing on a day when almost $2.5bn of new issues was injected into the Indian high yield arena, the trade nonetheless pulled in bids worth $9.1bn.