France
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Bpifrance has made several appointments to its funding team, including a change of its head of funding. -
NRW.Bank and Unédic drew solid results in the latest BondMarker scores, with the French agency just pipping the German issuer with its overall average.
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Caisse des Dépôts et Consignatios has reduced its 2018 funding target by 10%, but may not even return to the market for further issuance this year, according to a senior funding official at the agency.
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A dearth of corporate bond supply on Wednesday, due to a German public holiday, was followed by deals from airport operators in two markets on Thursday. Aéroports de Paris (AdP) opted for the domestic route, while Heathrow made its first visit to the Australian market.
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France’s Prodware has signed €92.5m of senior debt financing, as the management software consultant looks to refinance all its debt and fund growth plans.
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Banque Fédérative du Crédit Mutuel and Société Générale were both selling multi-tranche senior deals in the yen market this week, as the volume of Samurai bond issuance in 2018 surged past last year’s full year total.
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The French government sold a €1.24bn stake in Safran, the French aerospace and defence company, after the market closed on Monday night, another step in fulfilling the Macron government’s economic plans.
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Pan-European securities watchdog ESMA on Friday announced that it would renew its restrictive measures for contracts for difference (CFD) products for another three months.
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Société Générale and Abanca both offered investors additional tier one notes this week. For the French bank, it was the second deal of the week.
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Unédic has decided against a further benchmark bond this year, in a further sign of the slowly diminishing funding programme of the French state employment agency.
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Eutelsat, the French satellite operator, overcame some strong negative sentiment around its sector to increase its latest corporate bond issue. This was not the first time the company had overcome a difficult environment to get a deal done.
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