BNP Paribas

While much of the CEEMEA market is focused on how the Ukraine crisis is affecting secondary spreads, debt bankers are warning that the real threat to bond supply this year will come from slow growth, not short term spread volatility. Anaemic economic growth across key emerging markets jurisdictions has far graver implications for CEEMEA issuance, and could prompt investment banks to rethink their strategies towards the asset class.

Adira Dinamika Multi Finance launched its $200m facility to the market last Friday, pricing the deal at 175bp over dollar Libor — and managing to save 5bp over its previous loan.

Bank of Tokyo-Mitsubishi UFJ slotted a fifth tranche into its blow-out $4bn bond on Tuesday, adding a 30 year bond after US investors showed strong appetite for the longer tenor.

China’s Haichang Holdings started receiving bids for its HK$2.68bn ($346m) Hong Kong IPO on February 28 as investors were offered the opportunity to invest in what would be the first Asian theme park to list.

The high yield market is repricing — and despite one of the most alarming episodes in post-Cold War history, it is repricing tighter.

Premier Foods, which is bringing a £475m high yield bond this week as part of a wider recapitalisation that also includes a £353m equity issue, accelerated the deal today and now plans to price it on Thursday, originally intended to be the middle day of its roadshow.

The high yield market is repricing – and despite one of the most alarming episodes in post-Cold War history, it is repricing tighter.

Investors have put in nearly €45bn of orders across three new additional tier one deals, in a week that has seen numerous records in the asset class broken. The activity was variously described by bankers as a “bonanza” with “no end in sight” for demand, causing both excitement and a tinge of bewilderment among market pros.

BNP Paribas is the latest bank to respond to the growing interesting in climate themed bonds by appointing Stefanie Sfakianos as head of sustainable capital markets for fixed income. A member of Sfakianos’s liability management team will replace her as head of that business.

Premier Foods plans to issue a £475m high yield bond as part of an overhaul of its capital structure that also includes a rights issue and a new revolving credit facility.

German wind turbine maker Nordex Group has signed a €550m 2.5 year loan from 10 lenders.

Labeyrie Fine Foods, the French seafood and foie gras business, wants to sell some €275m of debut bonds.