Crédit Agricole

Gecina, the French real estate investment trust focused on residential, office and healthcare properties, will raise €1bn through a fully underwritten rights issue to partly refinance its acquisition of Eurosic.

Asian green bonds are front and centre this week. Greenko Energy Holdings took the lead with its dollar bond on Monday, with Singapore’s DBS Group Holdings and Hong Kong’s Castle Peak Power Company rolling out their transactions on Tuesday.

Corporate bond issuance volume in Europe this week was lighter than previous weeks. However, there were still seven issuers that priced deals. The main difference this week was the size of deals. Nestlé’s €850m eight year transaction was the largest one to print, but most order books were still at least twice oversubscribed as investors showed little sign of slowing down for the summer.

Rating: Aa2/AA/AA

The European Financial Stability Facility is set to enjoy enviable conditions when it comes to the euro market next week — during which the Greek sovereign could also make an appearance. Demand at the long end has been particularly strong due to a yield spike last week, which KfW and SCNF Réseau have since taken advantage of.

Not one to mince its words, Republic of Congo has said it "vigorously contests" S&P's decision to downgrade its foreign currency issuer rating to CCC on Friday.

The European leveraged finance markets are licking their lips in anticipation of a new €2.5bn deal backing Bain and Cinven’s takeover of Stada Arzneimittel, the German generic drug manufacturer.

SNCF Réseau launched its first 30 year green bond on Tuesday, following the example set by European Investment Bank at the end of June. KfW was also out in euros with a long 15 year — and more borrowers might be tempted to bring euro deals at the long end, said bankers.

South Korea’s Nonghyup Bank reeled in investors for its $500m five year bond at the start of the week, pricing the notes flat to its existing curve.

Respite from a two week old rout in eurozone government bond yields allowed two public sector borrowers on Monday to venture out with mandates for long dated euro deals. But analysts warned that the sovereign bond sell-off could have more room left to run.

A special purpose vehicle under India’s Greenko Energy Holdings is ready to market a dollar green bond, while Hong Kong’s Castle Peak Power Company is looking to sell what it is calling an energy transition bond.

South Korean agricultural lender Nonghyup Bank began marketing a five year dollar transaction on Monday morning, returning to the debt market after about nine months.