Banks

France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.

Sodexo, the French food service and facilities management firm, saw bumper demand for its €1bn no-grow dual-tranche bond issue on Wednesday, a day after it reported a 30% drop in revenue, and weeks after it shocked the US private placement (PP) market by saying it would repay around $1.6bn of debt early as it could do better in other financing markets.

Deutsche Bank has created a new coverage model for its public sector business, which will be headed up by Panos Stergiou, global head of macro coverage.

Mercuria, the Swiss commodity trading company, has signed $1.5bn of revolving credit facilities, prompting lenders on the deal to say the European syndicated loan market is returning to normality after the Covid-19 dash for cash.

Kookmin Bank has priced its debut euro covered bond flat to where its higher rated compatriot, Korea Housing Finance Corporation (KHFC) would have been expected to come. The deal was said to have attracted additional demand due to its social theme, spurring hopes that further similar issuance would follow.

CCR Re, the French reinsurer, debuted in the bond market with a tier two on Wednesday, executing a strong transaction on the back of intensive investor engagement combined with favourable market conditions.

Central and Eastern European commercial real estate operator NEPI Rockcastle issued a green bond on Tuesday, attracting new investors to its debt.

Ghana Cocoa Board (Cocobod), which is in the market to refinance a one year $1.3bn loan facility signed in September, is facing troubles according to bankers on the deal, contrary to comments recently made by its chief executive.

Delivery Hero, the German online food ordering marketplace, has returned to the equity-linked market six months after its debut to issue a jumbo €1.5bn dual-tranche convertible bond to fund M&A opportunities.

The New Zealand treasury has appointed the banks to lead the syndication of a May 2041 nominal bond, which is expected to take place next week.

TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.

Greentown China Holdings netted $300m from a bond on Tuesday to pay off notes that are due this year.