France

Floating rate investors were not left behind in Monday’s glut of issuance. RCI Banque, the Baa1/BBB rated car financing subsidiary of Renault, brought a seven year floater, sized at €500m no-grow.

Public sector borrowers are flocking to the green bond market, dominating the upcoming SSA pipeline as the year draws to a close.

With the benchmark corporate bond market pausing ahead of Thursday’s European Central Bank meeting, Deutsche Bank sold two sole-led sub-benchmark deals following Monday’s feast of issuance.

French food supplier Danone achieved what is believed to be the most tightly priced corporate hybrid capital issue ever on Monday.

Agence Française de Développement has placed a €205m clip maturing in 2037, exceeding the length of its previous longest trade in the currency by five years.

Two more public sector borrowers are set to add to the flurry of socially responsible investments dominating the upcoming SSA pipeline late in the year.

After a stream of successful repricings in the leveraged loan market this week, French call centre operator Webhelp is set to refinance its term loans for the second time this year and could shave a further 25bp off its financing costs, according to sources.

Citi has made Emmanuel Regniez co-head of investment banking in France, alongside Nicolas Desombre.

The European high yield bond pipeline this week brought €1bn of single-B rated offerings in euros and sterling from new issuers, giving hope to those working for a bigger borrower base for the market.

With the benchmark corporate bond market pausing ahead of Thursday’s European Central Bank meeting, Deutsche Bank has sold its second sole-led sub-benchmark deal of the week — a €150m 10 year new issue for the property subsidiary of Casino, the French retailer.

Euro corporate bond issuance was much cooler on Tuesday after Monday’s fireworks. “Maybe everybody parties on day one and is a bit hung over on day two,” mused one syndicate banker.

Agence Française de Développement will go on tour to market its newly established climate bonds programme in preparation for a euro deal with a tenor between five and 10 years.