Crédit Agricole

A $5.5bn senior secured loan to refinance China National Chemical Corp’s (ChemChina) outstanding debt has been launched into general syndication by 16 mandated lead arrangers and bookrunners.

Crédit Agricole Cariparma took advantage of the exceptionally tight spread environment to issue the first 20 year Obbligazioni Bancarie Garantite (OBG) on Thursday and completed the final leg of its 2018 funding requirement at a record spread through BTPs.

UniCredit has hired a senior Crédit Agricole banker as head of markets sales.

Non-US financial institutions have favoured going to the dollar market for unsecured offerings in the first two days of the year, with Crédit Agricole looking to raise tier two capital in the currency on Wednesday.

A plethora of covered bonds issued in the first week of 2018 met with strong investor demand reflecting the fact that buyers have considerable amounts of cash to put to work.

Reliance Industries has allocated its $2.49bn multi-tranche fundraising among 31 banks, with plans to transfer in the new lenders before the end of the year, said bankers close to the trade.

The sovereign green bond market looks set to come of age next year, with some issuers confirming that they will join the likes of France in printing deals and others mulling the possibility. But the model may not fit all government borrowers — for the moment, at least. Craig McGlashan reports.

Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.

Crédit Agricole has added to the momentum in systematic internaliser sign up, joining other banks in registering as one well ahead of a 2018 deadline.

A senior debt capital markets banker at Crédit Agricole CIB has moved to the bank’s sustainable banking team.

China General Nuclear Power Corp (CGNPC) raised around $1.5bn from a dual currency, triple-tranche transaction on Monday, which included a green bond. The issuer’s ambition to raise funds at the long end of the curve meant it offered a juicy pick-up on the five-to-10 year dollar curve compared to other A-rated state-owned names.

Crédit Agricole Cariparma issued a €750m eight year Obbligazioni Bancarie Garantite on Monday at the tightest spread to mid-swaps for an Italian deal since the sovereign credit crisis.