BNP Paribas

Tradeshift Appoints Iain Balchin as Chief Financial Officer

Retrieved on: 
Wednesday, February 14, 2024

San Francisco, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Tradeshift , the B2B e-commerce and fintech platform, today announces that Iain Balchin has joined the company on a permanent basis as Chief Financial Officer (CFO).

Key Points: 
  • San Francisco, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Tradeshift , the B2B e-commerce and fintech platform, today announces that Iain Balchin has joined the company on a permanent basis as Chief Financial Officer (CFO).
  • Iain brings over 25 years of experience as a senior financial executive across various sectors, including fintech, financial services and wealth management.
  • Iain will also join Tradeshift CEO James Stirk on the company’s board of directors.
  • 'With over a million businesses using Tradeshift for transactions globally, there are substantial opportunities to expand monetisation across the Tradeshift network through embedded financial services and marketplace commerce capabilities.

Verizon announces tender offers for five series of debt securities of Verizon

Retrieved on: 
Wednesday, February 14, 2024

The Offers are not conditioned on any minimum amount of Notes being tendered, and none of the Offers is conditioned on the consummation of any of the other Offers.

Key Points: 
  • The Offers are not conditioned on any minimum amount of Notes being tendered, and none of the Offers is conditioned on the consummation of any of the other Offers.
  • If Verizon increases the Maximum Principal Amount, it does not expect to extend the Withdrawal Date, subject to applicable law.
  • Kroll Issuer Services Limited will act as the Tender Agent and the Information Agent for the Offers.
  • In this communication Verizon has made forward-looking statements, including regarding the conduct and completion of the Offers.

Financial sanctions: banks’ reactions depend on their location, research reveals

Retrieved on: 
Tuesday, February 13, 2024

However, our latest research shows that even universally adopted sanctions can throw a spanner into the works of the global financial system for want of being enforced everywhere.

Key Points: 
  • However, our latest research shows that even universally adopted sanctions can throw a spanner into the works of the global financial system for want of being enforced everywhere.
  • Since the invasion of Ukraine in 2022, much ink has been spilled over the sanctions on Russia.
  • And since the late 1980s, there has been a shift toward imposing financial sanctions, which involve freezing assets and investments.

How sanctions impact lending

  • Sanctions will impose extra compliance costs on a bank, as it must fulfill reporting requirements and undertake due diligence checks to ensure its transactions are legal.
  • The bank will also have to factor in the litigation costs and the reputational risk involved if its due diligence should fail.
  • We wanted to understand how these costs and risks alter lending decisions.

Location, location, location

  • The data show how much each bank in Germany was lending in foreign countries from 2002 to 2015.
  • Importantly, German banks are also required to record how much their foreign affiliates (branches and subsidiaries outside Germany) are lending in each country.

The importance of the Financial Action Task Force

  • Founded in 1989, the Financial Action Task Force (FATF), also known by its French name, Groupe d’action financière (GAFI), is an intergovernmental organisation that sets international standards to allow national authorities to go after illicit funds linked to money laundering, terrorism and other related threats to the integrity of the international financial system.
  • Our analysis showed that German bank affiliates located outside the FATF increased their positions in sanctioned countries by an average of 95% relative to German banks inside the FATF.

Levelling the playing field

  • One key takeaway from this is that, regardless of whether it is the litigation risks or compliance costs that ultimately drive the decision to lend in sanctioned countries (or not), you don’t have a level playing field.
  • Banks in locations with weaker standards for the integrity of the financial system seem to find lending in sanctioned countries more attractive.
  • To guarantee a level playing field, it is also vital to make sure all countries effectively comply with these sanctions.


Grant of EUR 5000 from the French National Research Agency (ANR), “Investissements d’Avenir” (LabEx
Ecodec/ANR-11-LABX-0047). Deutsche Bundesbank (German central bank) provided on-site access to the database External Position Report and free accommodation on the premises of the central bank during the author’s research visits.

The Estée Lauder Companies to Issue $650.0 Million of Senior Notes

Retrieved on: 
Tuesday, February 13, 2024

The Estée Lauder Companies Inc. (NYSE: EL) today announced the offering and pricing of $650.0 million aggregate principal amount of its 5.000% Senior Notes due 2034.

Key Points: 
  • The Estée Lauder Companies Inc. (NYSE: EL) today announced the offering and pricing of $650.0 million aggregate principal amount of its 5.000% Senior Notes due 2034.
  • The offering was made pursuant to an effective registration statement filed by The Estée Lauder Companies Inc. with the Securities and Exchange Commission on May 20, 2021.
  • The closing of the offering is expected to occur on or about February 14, 2024.
  • A registration statement relating to the notes became effective on May 20, 2021, and this offering is being made by means of a prospectus supplement.

BNP Paribas Publishes Results of its 2024 Alternative Investment Survey

Retrieved on: 
Monday, February 12, 2024

BNP Paribas, Europe’s leading global bank, and its Prime Services business published today its annual 2024 Alternative Investment Survey.

Key Points: 
  • BNP Paribas, Europe’s leading global bank, and its Prime Services business published today its annual 2024 Alternative Investment Survey.
  • BNP Paribas’ Capital Introduction Group surveyed 238 allocators in December 2023 and January 2024, who invest or advise on $1.2 trillion in hedge fund assets.
  • Ashley Wilson, Global Head of Prime Services at BNP Paribas, said: “BNP Paribas credit prime platform is well positioned to support the continued growth of credit strategies as highlighted in our survey this year.
  • The objective of the report is to better understand sentiment regarding performance and asset allocation plans to hedge funds and other alternative investments.

Fortive Announces Pricing of Offering of Euro-denominated Senior Notes

Retrieved on: 
Thursday, February 8, 2024

Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that it has priced its registered offering (the “offering”) of €500 million aggregate principal amount of its 3.700% Notes due 2026 (the “2026 notes”) and €700 million aggregate principal amount of its 3.700% Notes due 2029 (the “2029 notes” and, together with the 2026 notes, the “notes”).

Key Points: 
  • Fortive Corporation (“Fortive”) (NYSE: FTV) today announced that it has priced its registered offering (the “offering”) of €500 million aggregate principal amount of its 3.700% Notes due 2026 (the “2026 notes”) and €700 million aggregate principal amount of its 3.700% Notes due 2029 (the “2029 notes” and, together with the 2026 notes, the “notes”).
  • BNP Paribas and Morgan Stanley & Co. International plc are acting as joint book-running managers for the offering of the notes.
  • This offering is being made only by means of a prospectus supplement and the accompanying prospectus related to the offering of the notes (collectively, the “prospectus”).
  • Before you invest, you should read the prospectus and other documents Fortive has filed with the SEC for more complete information about Fortive and this offering.

Informa PLC to Host Europe's Premier Fintech Conference: FinovateEurope 2024

Retrieved on: 
Thursday, February 8, 2024

LONDON, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Informa PLC (“ Informa ”), a leading London-based events production, digital services, and academic research agency is pleased to host FinovateEurope 2024 , the continent’s foremost fintech conference for the people who are transforming global financial services.

Key Points: 
  • LONDON, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Informa PLC (“ Informa ”), a leading London-based events production, digital services, and academic research agency is pleased to host FinovateEurope 2024 , the continent’s foremost fintech conference for the people who are transforming global financial services.
  • The in-person event will take place February 27-28, 2024, at the prestigious Intercontinental O2 Hotel , London, England.
  • FinovateEurope is renowned as Europe's pre-eminent fintech conference, curated by and for the executives who are spearheading transformation in the financial services industry.
  • The event promises 100+ impactful speakers and 35+ live product demos, showcasing innovative solutions from emerging fintech providers and established industry leaders alike.

Nasdaq Private Market Closes $62.4 Million Series B Financing, Led by Nasdaq, with New Investments from BNP Paribas, DRW Venture Capital, UBS, and Wells Fargo

Retrieved on: 
Thursday, February 8, 2024

The $62.4 million round was led by Nasdaq with participation from current investors including Allen & Company, Citi, and Goldman Sachs.

Key Points: 
  • The $62.4 million round was led by Nasdaq with participation from current investors including Allen & Company, Citi, and Goldman Sachs.
  • New investors in the Series B include BNP Paribas, DRW Venture Capital, UBS, and Wells Fargo.
  • NPM services some of the world’s most innovative private companies with their liquidity needs for employees and institutional investors.
  • Its Company Solutions business supports private companies using proprietary technology to facilitate tenders, auctions, and pre-direct listing programs.

Barings BDC, Inc. Prices Public Offering of $300 Million of 7.000% Notes due 2029

Retrieved on: 
Wednesday, February 7, 2024

Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC”) announced today that it has priced an underwritten public offering of $300 million in aggregate principal amount of 7.000% notes due 2029 (the “Notes”).

Key Points: 
  • Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC”) announced today that it has priced an underwritten public offering of $300 million in aggregate principal amount of 7.000% notes due 2029 (the “Notes”).
  • The offering is expected to close on February 12, 2024, subject to the satisfaction of customary closing conditions.
  • BofA Securities, Inc., Citigroup Global Markets Inc., R. Seelaus & Co., LLC and Roberts & Ryan, Inc. are acting as co-managers for this offering.
  • Investors should carefully consider, among other things, Barings BDC’s investment objective and strategies and the risks related to Barings BDC and the offering before investing.

HSBC USA Announces Appointment of Edith Avilés to its Boards of Directors

Retrieved on: 
Wednesday, February 7, 2024

HSBC Bank USA announced today the recent appointment of Edith Avilés to the HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A.

Key Points: 
  • HSBC Bank USA announced today the recent appointment of Edith Avilés to the HSBC North America Holdings Inc. (HNAH) and HSBC Bank USA, N.A.
  • (HBUS) Boards of Directors, effective January 1.
  • View the full release here: https://www.businesswire.com/news/home/20240207501418/en/
    Avilés has 30 years of investment banking experience across US, European and Latin American markets.
  • Since January 2023, Avilés has served as an independent director and member of the Audit and Finance Committees of The Scotts Miracle-Gro Company.