BNP Paribas

Propriety trading desks and hedge funds are focusing on reversion trades in the Japanese equity markets due to large dispersions in intra-sector single stocks, according to traders and strategists.

Offshore supply vessel operator Icon Offshore filed its preliminary prospectus to the Securities Commission Malaysia on March 26 for a $150m IPO that could come as early as the end of the second quarter.

Anheuser-Busch InBev, the Belgian-US brewing company, today joined the spate of large companies issuing multi-tranche deals into the present super-hot euro corporate bond market. Its deal was marked by two current trends: the popularity of floating rate notes and of 12 year bonds.

A flurry of banks may print private placements in Swedish kronor in the coming weeks as Swedish investors look to diversify. BPCE benefited from that drive as it sold its third deal in the currency this week.

Euro benchmarks from supranational borrowers that traditionally fund in dollars could be a feature of next quarter’s market, after the Asian Development Bank impressed with its debut benchmark in euros this week.

Indonesian conglomerate CT Corp signed its $1.275bn fundraising on Friday, March 20, a deal that saw a group of 19 banks piling in during syndication.

Airbus Group, also known as the European Aeronautical, Defence and Space Co, was cheered today by investors on its return to the euro bond market for the first time for five years.

International Vending Services, the Italian operator of vending machines, has sold a €50m tap of its €200m April 2020 high yield notes.

One of Italy’s more troubled financial institutions, Banca Monte dei Paschi di Siena, will sell a senior unsecured bond to screaming demand, in yet another illustration of how hunger for yield is not so much opening the door to market access to previously questionable credits; it is rolling out the red carpet and hosting a champagne reception in their honour.

BNP Paribas made disintermediation the heart of its 2016 strategy for the corporate and investment banking business, and committed to “bolster debt platforms, in particular high yield”.

Royal Bank of Scotland returned to the funding markets late last week for its first standalone bond issue since 2008.

Chinese property developer Optics Valley Union Holding Company raised HK$830m ($107m) on March 21, relying heavily on orders from Chinese investors to execute an IPO belonging to one of the most out of favour sectors in Hong Kong at the moment.