France
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Crédit Logement was able to sell a new tier two very quickly on Tuesday, despite the deal hitting screens at the same time as six other deals from financial institutions in the euro market. -
Unédic has announced that it intends to sell a seven year benchmark from its unguaranteed Neu MTN programme on Tuesday, in what is likely to be the borrower’s final benchmark of the year.
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French toll road operator Holding d'Infrastructures de Transport paid a hefty premium on Friday as it sold a dual tranche bond to help refinance its March 2018 note.
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On Wednesday morning, it was doom and gloom as secondary spreads had widened and only Vodafone dipped its toe into new issuance waters. But after a stable afternoon and a positive session in the US, Thursday morning brought calm.
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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.
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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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