BNP Paribas

BNP Paribas has made two senior hires in European equity capital markets as part of its ambitious challenge to top the region’s league table positions.

EQT achieved a strong response from investors on Friday when it launched the first sustainability-linked bond from a private equity firm, and only the second from a financial company. The €500m deal is tied to greenhouse gas emission cuts and gender diversity metrics.

Belgium dropped into the long end of the euro curve to place a 100 year bond this week – its first private placement for seven months.

Ceconomy, a German consumer electronics company, has signed a €1.06bn revolver linked to sustainability metrics, becoming the latest corporate to repay state support loans taken out during the worst of the coronavirus pandemic.

BOC Aviation has raised $250m from a tap of bonds sold just last month, finding solid support from US investors for its comeback.

Emirates telecom provider Etisalat landed in the euro market with a bond on Thursday, raising €1bn across two tranches in a currency that is fast becoming a home for EM borrowers.

The demand for sustainability-linked bonds was made clear on Thursday, as French minerals company Imerys’s deal commanded more than double the demand of Swedish property firm Sagax’s conventional trade, despite sharing big similarities.

Despite paying a chunky new issue premium, Deutsche Bahn was still able to score some attractive arbitrage with its latest Swiss franc deal this week, and with favourable pricing on offer for foreign names, bankers are confident more could follow.

Deutsche Bank scored a blowout book with its first euro additional tier one since 2014 this week, as investors rewarded the issuer for progress on its turnaround plan. Banco Santander then gave the asset class another shake, with a deal split across euros and dollars.

Bank of Ireland and Westpac found strong demand for debut green tier two deals this week, as investors flock to this growing segment of the ESG market in search of higher returns.

Europe’s high grade corporate bond investors clamoured for spread this week, with low triple-B rated companies Aker BP and Holding d’Infrastructures de Transport (HIT) finding ample demand a day after Eni had sold hybrid debt.

The demand for sustainability-linked bonds was laid bare on Thursday, as French minerals company Imerys’s SLB commanded more than double the demand of Swedish property firm Sagax’s conventional trade, despite both deals sharing major similarities.