SocGen takes second bite from capital plan

By Tyler Davies
25 Mar 2021

Société Générale benefitted from calmer issuance conditions on Thursday as it sold €1bn of new tier two debt. The deal takes another chunk out of the issuer’s capital plans, which totalled a sizeable €4.5bn at the beginning of the year.

Société Générale opened books on the new 10.25 year non-call 5.25 through its own investment bank.

The Baa3/BBB-/BBB rated lender began with price thoughts in the 175bp-180bp area over mid-swaps.

The deal had attracted about €1.25bn of orders by 10.45am in London and about €1.65bn by noon, at ...

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