Rallye, the French food distribution group, selected ABN Amro Rothschild, BNP Paribas and Crédit Lyonnais to jointly lead a €200m ($208m) convertible bond, which has become the first European equity-linked issue in 2003.

The three banks were joint bookrunners and joint lead managers. When Rallye last entered the equity-linked market BNP Paribas and Deutsche Bank led the issue. In January 2001 Rallye issued a €460m bond exchangeable into shares of Casino Guichard-Perrachon to shore up its ownership interests in the French supermarket chain. Rallye used the funds raised to buy shares in Casino's secondary offering.

Rallye opens European equity-linked market

Shanny Basar

BNP Paribas

Casino Guichard-Perrachon

Deutsche Bank

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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Tricks of the trade gain new importance as 401(k) accounts open up to alternative investments.

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The bank’s economists had predicted tariffs could cause inflation and slow economic growth.

Trump Calls on Goldman to Replace Economist Over Tariff Stance

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