Priced: EUR406.35m Avoca A CLO XXIX DAC reset via BNP Paribas

Priced: EUR406.35m Avoca A CLO XXIX DAC reset via BNP Paribas

In recent developments, BNP Paribas Financial Markets has significantly reduced its holdings in Crown Castle Inc. (CCI), a real estate investment trust (REIT) specializing in wireless infrastructure. According to the company's latest 13F filing with the SEC, BNP Paribas sold 82,679 shares of CCI, reducing its ownership to approximately 0.21% of the company, valued at $96.58 million [1].

The sale represents an 8.2% decrease in BNP Paribas' CCI holdings. Prior to the sale, the institution held 926,647 shares of CCI, which now stands at 843,968 shares. This reduction follows a period of quarterly dividend payments by CCI, with the latest dividend amounting to $1.0625 per share, yielding an annual return of 4.3% [1].

Meanwhile, other institutional investors have also shown interest in CCI. Opal Wealth Advisors LLC, Iron Horse Wealth Management LLC, Centerpoint Advisors LLC, Stone House Investment Management LLC, and American National Bank & Trust have all acquired new stakes in CCI during the first quarter, with positions valued at around $26,000 to $29,000 each [1].

In parallel, the African Development Bank (AfDB) is reportedly planning a hybrid bond issue to raise up to $1 billion, according to recent developments. BNP Paribas, with its strong presence in Europe, the Middle East, and Africa, is set to assist in structuring this bond, which is expected to be callable after five or ten years and may carry a sustainable label [2].

The hybrid bond, which carries a fixed rate coupon, is set to be issued as soon as September. It is structured by Goldman Sachs Group Inc. and BNP Paribas SA, with the potential for the coupon to be canceled if the bank's leverage were to roughly double from its current level, though this is considered remote [2].

This move by the AfDB aligns with a broader trend among multilateral lenders to turn to private markets for capital to address the growing needs of developing nations. The need for such capital is driven by factors such as climate change, military conflicts, and hard-to-manage debt burdens, as well as reduced overseas aid under the Trump administration [2].

References:
[1] https://www.marketbeat.com/instant-alerts/filing-bnp-paribas-financial-markets-sells-82679-shares-of-crown-castle-inc-cci-2025-08-30/
[2] https://www.ainvest.com/news/bnp-paribas-geographical-distribution-net-banking-product-2508/