SGD, Afflelou cut non-calls to 1.5 yrs

In yet another sign of the European high yield market's bullishness, SGD Group, the French glass packaging company and a debut issuer, has priced a fixed rate bond with an unconventionally short non-call period, increased the deal and sold it inside price guidance. And SGD is not alone — Alain Afflelou, a French optician chain, is following the short call example.