France

SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.

KfW reopened the public sector dollar market on Wednesday by picking up a hefty $4bn from a well oversubscribed book. Société de Financement Local will be next up, after mandating banks for a trade.

Top officials from global supervisory bodies furiously debated the implications of new European rules that change the oversight of foreign clearing houses, covering the role of central banks, national regulators and arrangements in crisis situations.

French reinsurance firm CCR Re is planning to carry out a debut transaction in the bond market with a restricted tier one (RT1) deal, as other insurers also see a role for the instrument in their capital structure.

Simon Gagey, the Southeast Asia head of loan syndicate and sales at BNP Paribas, will be relocating to Paris later this month, according to sources.

Carrefour, the French supermarkets group, sold Europe's second corporate bond deal of the week on Tuesday, as the market slowly recovered from the volatility of the previous week. There still remained some nervousness around market conditions, however, so Carrefour had to ensure it offered investors a healthy premium.

Larry Thompson, vice-chairman of the Depository Trust & Clearing Corp, on Tuesday suggested that populist rhetoric in the US might be overshadowing President Trump's strong choices of leaders in independent financial oversight agencies.

Delachaux, the French railway equipment maker, has set the terms on its Paris IPO.

French food distributor Alphaprim has raised a small amount of Euro private placement (Euro PP) debt.

Paragon Group, the UK ticket printing company, has tapped a euro private placement it issued in April, raising €35m.

Guarantor: France

The political manoeuvrings in Italy’s path to being governed — as well as poor eurozone economic data — played havoc with rates this week, leading to SSA deals either paying higher new issue concessions, or falling short of subscription. More volatility could come, after the country’s president approved the likely coalition partners’ choice of prime minister but held back from appointing a eurosceptic economist to take charge of the country’s economy. Craig McGlashan reports.