Société Générale's €1.3bn IPO of ALD is covered at max

Aidan Gregory

June 13, 2017 05:00 PM

Soc_Gen_pa_230x105 — Moody's ratings agency said Wednesday Sept. 14, 2011, it had downgraded by one notch top French banks Societe Generale and Credit Agricole while leaving BNP Paribas on negative watch. Credit Agricole's rating slid from Aa1 to Aa2 while Societe Generale was cut from Aa2 to Aa3. Shares in all three banks have plummeted in recent weeks on exposure to Greek sovereign debt and turbulence caused by the eurozone debt crisis. File picture : French bank Societe Generale headquarter building in the business district of La Defense near Paris, France on February 18 2009. Photo by Etienne de Malglaive/ABACAPRESS.COM | de Malglaive Etienne/ABACA/PA Images

The IPO of ALD, the car leasing division of Société Générale, is covered at its maximum size including the greenshoe, ahead of the end of the bookbuild on Thursday.

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Topics

Deutsche Bank JP Morgan Credit Suisse Equity IPOs Equity Bank of America France Barclays EMEA Europe HSBC Société Générale

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Aidan Gregory