BNP Paribas
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Market participants expect to see the end of “vanilla” deals in the European bank bond market, as tier two debt becomes the latest asset class to embrace call periods over call dates.
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China Railway Construction Corp (CRCC) sold two tranches of five year bonds, one in dollars and the other in euros, to net more than $663m.
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A group of nine issuers from Asia sold green or sustainability dollar bonds this week, propelling volumes to new highs. A large part of the debt business in the region is still focused on green and the environment, but there is growing urgency to pay more attention to governance standards. Morgan Davis reports.
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French cloud computing company OVHcloud has mandated banks for its upcoming initial public offering on Euronext Paris.
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Macquarie shed over a third of its order book on Wednesday as it priced its third euro deal in 18 months at what was deemed a “very tight” level. It was joined in the senior market by Swedbank, which was issuing its first callable non-preferred bond.
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Virgin Money UK was six times subscribed for a tightly priced tier two in the sterling market on Wednesday, despite having offered a very similar deal to investors last September.
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SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.
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The rapid pace of new dollar bond issuance from Chinese property companies continued from Monday into Tuesday as four more borrowers joined the fray.
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China Water Affairs Group has made a rare outing in the debt market for a $200m green bond.