Crédit Agricole

The French government is open to using its “soft power” to help the green bond market, as it did when it assisted in establishing the Euro Private Placement (PP) market. But tax or regulatory capital incentives are unlikely at the moment, reports Jon Hay.

Cegid has launched €365m of loans for its buyout, at a 25 times multiple, by two investment firms. One of the buyers was set up by the former chief operating officer (COO) of Goldman’s investment banking unit in Japan.

Mexican cement producer Cemex sold €400m of euro denominated bonds on Wednesday as the company’s liability management policy brought it popularity with fixed income investors.

Mexican cement manufacturer Cemex on Wednesday followed in fellow high yield issuer Braas Monier’s tracks with a significant tightening in pricing on its offer.

Régie Autonome des Transports Parisiens struggled to fill the order book for a no-grow €500m bond on Wednesday, thanks in part to confusion surrounding its eligibility for purchase by the European Central Bank.

Île-de-France was able to tighten pricing by 5bp from initial price thoughts for its fourth foray into the green bond market and still managed to increase the deal from its initial target size.

The 10 year Bund yield hit a record intraday low on Tuesday, as a German region increased a deal size and a French agency lined up an unconventional eight year deal.

Air Liquide began the first stage of refinancing a €12bn bridge loan backing its acquisition of US competitor Airgas by issuing a €3bn five tranche bond on Monday.

Île-de-France will open books for its fourth green bond on Tuesday morning, in spite of troubling US jobs data.

Four banks have undewritten a bridge facility to support Groupe SEB's acquisition of WMF Group and the company is understood to be considering a small syndication of the facility.

Banca Popolare di Milano and Banco Sabadell issued covered bonds which, despite their negligible new issue concessions, met with exceptionally strong demand.

After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.