France
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A French public sector borrower has appointed HSBC as sole arranger for its Euro Medium Term Note programme, as it prepares to make its debut in the bond markets. -
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French toll road operator APRR had been quiet in 2018 by its own standards, but it sold its first corporate bond deal of the year on Wednesday with a €500m long 11 year trade. It paid a low new issue premium for the deal, but lost a number of orders along the way.
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Private equity firm Antin Infrastructure Partners has signed €673m of debt facilities to back its acquisition of French energy infrastructure and services company Idex.
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The European Securities and Markets Authority (ESMA) has unveiled regulatory relief for EU counterparties that have non-cleared derivatives agreements with UK entities. The measures aim to help alleviate increased costs that may kick in due to a no-deal Brexit.
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BNP Paribas, Crédit Agricole and Société Générale are making plans for the eventuality of a hard Brexit, in some cases putting swathes of bankers at risk of redundancy. Some DCM and sales teams have been asked to move, though each bank is taking a different approach as to who will need to be relocated to comply with EU regulations.
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Goldman Sachs was left long of stock in Bureau Veritas, the certification agency, after a €400m block trade on behalf of Wendel on Monday night.
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A funding official at KfW has switched to the corporate sector.
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France’s AccorHotels has bought its Paris head office for €363m, drawing on a new green loan to finance the acquisition.
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After scrapping its first attempt to issue Obligations Foncières last month, My Money Bank was finally able to complete its covered bond deal on Wednesday — but subscription levels were muted.
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Consolis, the French concrete producer owned by Bain Capital, has abandoned its €135m IPO on Euronext Paris, blaming volatile markets.
