Natixis
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Beijing Automotive Group (BAIC) has thrown open a €2.2bn-equivalent loan to support its acquisition of a minority stake in German automaker Daimler. -
Profits at Natixis’s corporate and investment bank fell sharply in the second quarter after provisions for credit losses tripled, it showed in results released after market close on Thursday. The bank was also keen to display its sustainable finance initiatives.
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Investors poured orders into the only new issue on Friday, despite a softer backdrop in the corporate bond market. Repsol, a Spanish energy company, was more than six times subscribed for its €750m eight year note.
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A pair of Middle Eastern credits received large orders for what may be among the last bonds issued before the summer lull.
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Worldline, the French payments company, attracted strong investor demand for a negative-yielding €600m convertible bond due in 2026, to refinance its acquisition of a minority stake in equensWorldline, its transaction processing subsidiary.
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Oman came to market on Thursday for a pair of dollar benchmarks, offering initial price thoughts onlookers described as "generous" and gathering a large order book ahead of the opening of the New York market.
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Oman is set to return to the bond market for the first time in nine months this week. The sovereign has picked banks for five and 10 year dollar benchmarks.
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Banca Popolare di Sondrio tapped the FIG euro market this week, looking to bolster its subordinated capital buffer. The issuer had to pay an expensive coupon of 6.25% on the notes, but with this issuance it fulfils its minimum requirements for own funds and eligible liabilities (MREL).
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BNP Paribas has hired a former executive director at Natixis to lead its sustainable capital markets team for Asia Pacific.
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French renewable energy company Voltalia has finished its €376m rights issue after meeting with more than 100 investors on a deal roadshow, according to a source close to the transaction.
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The Republic of Tunisia printed a tight €700m 6.375% 2026 bond on Wednesday from a book of nearly €2bn. A syndicate manager away from the deal said it was a good demonstration of the enthusiasm for emerging market credit.
