BNP Paribas
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            ◆ French bank's insurance arm is a very rare issuer in the open market ◆ New RT1 is a public deal but done as a 'restricted placement' ◆ Refinances a call on €1bn tier one from 11 years ago
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            Sovereign achieved ‘significant milestone’ but market participants hope to see more
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            ◆ Sole management enables quick sale ◆ Debate on fair value but some concession left ◆ Big green bond comes between two SNP redemptions
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            Barclays wants to emulate BNPP's success in Nordic region
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            French risk ‘the known unknown’ and will ‘get serious' come autumn
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            Banker left US house and joined boutique in 2023
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            Long time staffers handed expanded remit
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            Overhaul means big promotion for Osty and a new structure for the CIB
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            Investors are thirsty for yield and willing to sacrifice spread
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            Firm’s tailored package for UK nuclear project is new milestone in private credit’s advance into investment grade lending