BNP Paribas is the only bank leading both the equity and debt issues of a €1bn ($1.2bn) refinancing package for Rhodia, the French specialist chemicals group which warned last month that it may not be able to repay its debts.

Goldman Sachs and Rothschild are advising Rhodia on its restructuring. BNP Paribas, Credit Suisse First Boston, HSBC and Crédit Lyonnais, are lenders.