BNP Paribas
Euro market to the fore for Australian corporates as demand rallies
Two Australian corporate borrowers accessed the euro market in the week beginning 18 March. Deal sources say Telstra Corporation (Telstra) and Scentre Group (Scentre) took advantage of the euro’s current status as the most competitive global funding option for Australian issuers to price 10-year deals, each with negative new-issue concessions.
Simplicity key in BNP Paribas’s senior nonpreferred EMTN
On 21 February, BNP Paribas priced a dual-tranche senior nonpreferred EMTN, the first Australian dollar deal in this format for 2019. Lead managers say taking a simple, broadly appealing structure to the market was essential in achieving benchmark volume in what can be a challenging format.
Pricing details on BNP Paribas’s dual-tranche senior nonpreferred five-year EMTN
BNP Paribas launches five-year senior nonpreferred EMTN deal
On 21 February, BNP Paribas (A/Aa3/A+) launched a benchmark five-year, Australian dollar denominated senior nonpreferred EMTN transaction, to come in either or both fixed- and floating-rate formats. The forthcoming deal has indicative price guidance of 175-180 basis points area over swap benchmarks and is expected to price on the day of launch.
BNP Paribas starts marketing five-year senior nonpreferred EMTN
On 20 February, BNP Paribas (A/Aa3/A+) began taking indications of interest for a new, five-year Australian dollar denominated senior nonpreferred EMTN transaction. The possible deal will come in either or both fixed- and floating-rate formats and has initial price guidance of 180 basis points area over swap benchmarks. The deal is expected to be rated A-/Baa1/A+.
Sustainable-debt trends
Trends and data from the Australasian sustainable-debt market.
Financial institution issuers yearbook 2018.
The first annual guide to global financial-institution issuers.
