As a primary dealer, BNP Paribas will make markets in Irish government bonds in addition to participating in auctions arranged by the NTMA. The bank will also make markets on EuroMTS and on the Irish segment of that platform, MTS Ireland. BNP Paribas ranks amongst the top five underwriters in European sovereign bonds this year. Dealings will be undertaken through BNP Paribas' London Branch.
Alexandra Basirov, Head of European Sovereigns, Supranationals and Agencies, BNP Paribas said, “We are delighted to have been admitted as a primary dealer in Irish government bonds. This is an exciting addition to our European sovereign business where we hope to deepen our footprint as an all-round service provider to both investors and borrowers alike.“
Oliver Whelan, Director, Funding and Debt Management, NTMA added, “We expect that the Irish government bond market will benefit significantly from the extensive experience which BNP Paribas has of primary dealing in other European sovereign bond markets. We are confident that the bank's recognition as a primary dealer will strengthen this market further and enhance the profile of Irish Government bonds for investors.”
The appointment of BNP Paribas as a Primary Dealer in Irish government bonds is particularly timely in the context of the bank celebrating a 35 year presence in Ireland in 2008. The bank now employs over 200 people across Corporate & Investment Banking and other territory businesses, including BNP Paribas Securities Services, AtisReal and Cardif Pinnacle.
BNP Paribas is incorporated in France as a Société Anonyme, and is regulated in France by Commission Bancaire
About BNP Paribas Corporate and Investment Banking
BNP Paribas Corporate and Investment banking division (http://cib.bnpparibas.com/) has almost 16,000 employees, deployed in 53 countries around the world. BNP Paribas CIB excels in three fundamental sectors in particular :
Derivatives - it is one of the leading global players in rates, credit, forex, commodity and equity derivatives
Capital markets - it is amongst the top ten Euro houses for both ECM and DCM (bond issues, securitization, convertibles and shares).
Structured finance - it is amongst the world leaders for acquisition, export, project and commodity finance.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 4 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with more than 168,000 employees, including 129,500 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.