France
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Société du Grand Paris mandated banks on Monday to market its debut green bond. -
BPCE brought out its first social bond from a relaunched sustainability framework on Monday, with proceeds targeting local economic development. It broke the record for the size of a social or green bond issued by a European bank.
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The name Covivio Hotels is new to the corporate bond markets, however the company behind the brand is not. Formerly known as Foncière des Murs, the hotel investment company sold its first bonds under its new name on Monday.
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Groupama Assurance Mutuelles was marketing a new 10 year bullet tier two on Monday, with Phoenix Group Holdings hoping that market conditions will remain strong for a similar trade that it is planning to bring this week.
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The French region mandated banks on Friday for its first green and social bond, which has been targeted for the long end of euro curve.
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French polling and market research firm Ipsos issued its first public corporate bond on Friday, following an investor update, but the responses the company received on the call were inconclusive.
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After a stellar public sector euro market in 2018, there were signs on several deals this week that demand has waned.
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French asset manager Axiom Alternative Investments has hired Laurent Henrio, the former global head of credit trading activities at Société Générale, to run a new fund buying illiquid credit exposures in banks’ trading books.
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French building materials producer Saint Gobain received overwhelming demand for its second benchmark issuance of 2018. A combined order book of €7bn meant the issuer could have sold a much larger deal than the €1bn size limit it imposed on itself.
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France’s Nexity has signed a €2.3bn corporate credit facility, with the real estate developer refinancing early and ramping up the size of its bank line to finance its growth strategy.
