Vinci, the French construction company, has turned to BNP Paribas for the sale of a €435m ($386m) convertible bond, despite using Crédit Lyonnais to run an even bigger deal last year.
BNP Paribas is sole lead manager and bookrunner on the current issue. Last July, Crédit Lyonnais was the sole bookrunner of a €517.5m Vinci convertible issue.