SocGen hits dollars as US stays open for business

Tyler Davies

December 08, 2020 01:00 pm

Societe_Generale_PA_575x375_081220 — 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

Société Générale took advantage of superlative conditions in the US dollar market at the start of the week, raising $2bn of funding with a tightly priced deal in non-preferred senior format.

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Coronavirus Senior Debt Credit Suisse Europe France Barclays EMEA FIG

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Tyler Davies