BNP Paribas
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Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.
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Bpifrance achieved a solid result as it sold its first green bond on Thursday, which came alongside another green bond from a compatriot issuer.
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Pandora, the Danish jewellery maker, has signed a €950m sustainability-linked loan and in the process become the latest company to repay, early, coronavirus pandemic crisis funding taken out last year.
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Issuers piled into Europe’s high grade corporate market on Wednesday but investor responses were mixed when it came to the deals at the tightest spreads.
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Greek lender Eurobank returned to the market this week to land €500m of senior paper for its minimum requirement for own funds and eligible liabilities (MREL) at a yield above 2%, proving the market is there for even for very risky credits.
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BNP Paribas plans to expand its presence in China’s onshore capital market, having applied to the securities regulator to set up a securities company in the Mainland.
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Hyundai Motor Manufacturing Indonesia nabbed $300m from a five year bond on Tuesday.
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Solidium, the organisation that manages the investments of the Finnish government, has reduced its stake in SSAB after the steel maker reported a strong set of first quarter earnings.
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Blackstone Property Partners Europe Holdings, a real estate investor, got enough demand for its bonds this week for it to price the debt flat to its curve and increase the size of the deal from expectations, as high grade corporate investors betrayed no sign of indigestion despite the recent deluge of debt issuance from the sector.