Natixis
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Two French borrowers took advantage of a resurgent corporate bond market on Wednesday, with electrical components manufacturer Schneider Electric and real estate company Icade selling euro debt. -
French banks Natixis and BNP Paribas have rejigged their Asian loan syndication teams.
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John Wade, the head of syndicate and MTNs, Asia Pacific at Natixis will also head loan distribution in the region for the bank from September.
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At least three Turkish banks have set up covered bond programmes and could theoretically be ready to issue their first benchmarks this autumn. However, even if the political outlook improves, the cost of funding in dollars using established senior unsecured programmes may be difficult to beat.
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One bank has sent out invitations for a $200m refinancing being raised by Indian travel company Cox & Kings, according to two sources.
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French lender Natixis has poached two bankers from RBS to form a corporate advisory department for Asia Pacific.
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Russian fertiliser producer Uralchem is in the advanced stages of syndicating a $400m four year loan and like other Russian deals seen this year, the loan is self-arranged, according to bankers.
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The euro market provided a mixed bag this week with Royal Bank of Canada pricing a €1.25bn five year FRN just a day after Banco Sabadell was forced to pull a four year bullet.
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Russian Uralchem is in the advanced stages of syndicating a $400m loan with a four year tenor, according to bankers on the deal.
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Russian fertiliser producer UralChem is in the market for a syndicated loan led by Natixis, according to a banker looking at the deal.
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The deadline for banks to submit proposals for Turkish Airlines’ loan is the end of this week, according to a banker on the deal.
