Société Générale tap shrugs off senior slumber
Société Générale harnessed notable demand for bank debt at the start of this week to get a Eu500m tap away comfortably oversubscribed. But a volatile secondary market meant that only Germany’s Norddeutsche Landesbank — also topping up an existing issue (see separate story, page 7) — followed the French institution’s lead.
Trading volumes were minimal throughout the week. That left prices particularly volatile, said a FIG syndicate banker.
"Even a small amount of bonds being traded will affect the market in a big way because theres so little liquidity," the banker said. "The market is not awful. There are
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