BNP Paribas
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Private equity firm Blackstone is raising $1.1bn to support its purchase of a stake in Indian IT company Mphasis. The deal is set to be the largest leveraged buyout loan in the country — and comes with a group of 13 bookrunners at the top. Pan Yue reports. -
The European Union mandated banks on Monday for a dual tranche transaction comprising bonds for its Next Generation EU (NGEU), European Financial Stabilisation (EFSM) and Macro-Financial Assistance (MFA) programmes.
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Enel smashed a series of records when it came to the dollar market with a $4bn sustainability-linked bond on Wednesday.
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A2A, the Italian utility, has signed a €500m sustainability-linked revolving credit facility, as the company shifts large parts of its capital structure to key performance indicator-driven pricing.
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The disparity between ratings and spread levels was highlighted in the euro high grade corporate bond market on Wednesday, after German conglomerate JAB Holdings opened books on a deal 40bp wide of lower rated Italian utility A2A, despite the same maturity and size.
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A trio of green labelled debuts attracted “slim” demand on Wednesday, as the three senior deals had to compete with a flurry of other trades for a slice of the shrinking pre-summer investor pool.
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BOC Aviation, the aircraft leasing arm of Bank of China, has launched a $750m borrowing into general syndication.
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Korea Gas Corp, a government-owned borrower, found ample support for its dual tranche $800m bond, with demand of more than $5bn during bookbuilding allowing the firm to price the notes around some fair value estimates, and well inside others.
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France impressed SSA bankers as it paid a tiny new issue premium for a new 30 year OAT via syndication on Tuesday.
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A succession of debut labelled deals are filling the FIG pipeline as issuers look to make use of the last window ahead of the summer break. ESG bonds from SpareBank 1 SR-Bank and Banco BPM are set to join the already mandated Banca Popolare di Sondrio and Arion Bank in the market later this week.
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BNP Paribas sold its first Swiss franc green bond on Tuesday, navigating concerns over the non-preferred format to twice bump up the size of its Sfr230m ($230.8m) deal. It was joined in the market by Pfandbriefzentrale, which printed two tranches of covered bonds.
