BNP Paribas has launched a twin assault on the debt markets, after it created a specialist financing group to take advantage of the booming sectors of infrastructure, energy and commodities, and said it was preparing to sell up to €25bn ($32bn) worth of covered bonds.

The French bank, which reports its third-quarter results tomorrow, has hired Paul Chivers from rival Deutsche Bank to co-head a new specialised product group within its fixed income division.