Crédit Agricole
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Crédit Agricole has hired a former Barclays head of MTNs to head up its MTN business in Europe.
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India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction. -
Japan telecoms company SoftBank took another step towards its flotation this week by replacing its intergroup credit with a double-B rated leveraged loan. This followed a high-yield bond sale in April with the same purpose.
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Chinese bond issuers were the first out of the gate on Thursday, vying for investors’ attention after public holidays in many parts of Asia shut markets on Wednesday.
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The European Central Bank on Monday fined Crédit Agricole for not obtaining permission to classify instruments as common equity tier one (CET1). GlobalCapital understands this related to ordinary shares issued in an equity raise.
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The European Central Bank announced on Monday that it was imposing a €4.8m penalty on Crédit Agricole for not obtaining prior permission for classifying instruments as common equity tier one (CET1) capital. It is the second largest fine it has handed to an entity in relation to its supervisory tasks.
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After a two year absence in the Panda bond market, Veolia Environnement made its return last week to raise Rmb1bn ($145.6m). Instead of placing another three year bond, the French corporate issuer cut the tenor to just one year — a move that paid off for the borrower, said bankers.
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World Bank scored an average of 7.27 with its first euro benchmark in almost two years, with voters particularly praising the deal in the structure/maturity category.
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Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.
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Volkswagen Leasing took advantage of the positive tone in the quiet corporate bond market to build a huge order book for its €2.5bn triple-tranche offering.
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World Bank returned to the euro benchmark market for the first time since October 2016 on Wednesday, amid an attractive euro/dollar basis swap for dollar funders.
