France
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Elis, the French laundry group, has raised €600m from 12 banks, in part to pay off the bridge facility it used to acquire UK rival Berendsen in the summer. -
UK pest control company Rentokil launched its €400m seven year offering on Thursday morning, alongside two three year offerings from the utility and car leasing sectors.
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Bank of China's Paris branch raised almost $1.5bn across three currencies and tranches on Wednesday, marking the fifth offshore green bond from China this year. Concord New Energy had contrasting success and pulled out of a planned deal.
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Two green issuers from China are wooing buy-side accounts for new bonds, with Concord New Energy Group and Bank of China collecting investor orders from Wednesday morning.
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Bank of China has mandated firms to sell a multi-currency green bond through its Paris branch.
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Crédit Logement, the French mortgage guarantor, has picked banks to arrange a sale of new tier two bonds as it looks to finance a tender offer for older and more expensive capital instruments.
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Following French food company Danone’s recent hugely successful hybrid corporate debut, investors have been waiting for the next hybrid trade. This week they had two to consider.
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More socially responsible investment paper from public sector issuers keeps arriving on screens, but despite the deluge, borrowers are still managing super-tight spreads and selling healthily subscribed deals. And there’s still more to come.
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The European high yield bond pipeline was stuffed with an array of mainly sub-benchmark deals this week, after issuance volume hit a historic high.
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The City of Paris printed a sustainability bond on Thursday, shaving several basis points from the spread during execution thanks to a healthily oversubscribed book.
