BNP Paribas
-
The European corporate bond market had already seen plenty of fireworks by Wednesday but there was no let-up on Thursday. -
Christopher Marks, head of global DCM at BNP Paribas, left the bank on Thursday morning, GlobalCapital understands.
-
Fleet management firm LeasePlan, which had been busy at the long end of the curve, sold a five year Norwegian krone MTN this week as it targets the three-to-five year segment amid a diversification push. Meanwhile, France's BPCE was active in Swedish kronor.
-
The second visit by a non-European supranational to the euro benchmark market since the euro/dollar basis swap neared parity late last year could encourage its peers to print in the currency over the coming weeks. The Asian Development Bank’s debut euro benchmark this week offered more enticing pricing than when the World Bank opened the market late last year — but by printing a larger deal, it was equally if not more impressive in many bankers’ eyes.
-
Two UK building societies took to the euro market this week, with Nationwide and Leeds Building Society selling senior debt. Both issuers fell victim to a weak tone, with Leeds’ bonds struggling in the secondary market and Nationwide failing to reach its maximum size ambitions.
-
-
-
Airbus Group, also known as the European Aeronautical, Defence and Space Co, was cheered by investors on Tuesday on its return to the euro bond market for the first time for five years.
-
Kommuninvest and Nordic Investment Bank are considered likely candidates to kickstart the dollar market next week after a quiet patch. Export Development Canada was the only issuer to sell a dollar benchmark this week, pricing a three year deal on Wednesday.
-
Banco Santander Totta this week returned to the covered bond market after a four year absence, choosing a three year maturity and a spread that ensured it was an easy choice for risk-averse and yield-hungry investors alike. The €1bn deal is likely to replace central bank funding.
-
Nationwide will be the second UK building society to issue in euros this week. Leeds Building Society tapped the market on Tuesday, though its paper has seen shaky trading since then.
-
LeasePlan’s goal to diversify its investor base and smooth its redemption profile means the issuer will target small private placements over the coming months. It has also been expanding its currency mix and sold its third ever deal in Norwegian kroner this week.
