France
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French family office Caravelle has been granted exclusivity to buy Tiama, a provider of services to the glass packaging industry, from shareholders EQT Credit II, Kartesia, European Capital and Omnes. -
French fashion group SMCP is ready to pursue a listing again, after canning its IPO plans last year in favour of a sale to China’s Shandong Ruyi Technology Group Co.
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The final fortnight of June has been seen as the last busy window for new issuance before the summer. This week lived up to its billing with over €11bn-equivalent of new deals priced and syndicate desks see no reason for conditions to change next week.
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Most new bond issues in Europe this week have been multi-tranche offerings, with issuers benefitting from investor appetite to buy longer tenors for greater returns. Safran, however, bucked that trend with a pair of short dated floating rate notes.
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Market participants are clamouring for sovereigns to join France and enter the green bond market. It would likely help the market, but would it help the environment?
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Calls are growing louder for sovereigns to pull their weight and assume a leading role in the development of the green bond market. But, as was demonstrated at panels in Euromoney’s Global Borrowers & Bond Investors Forum this week, many of them are reluctant to take up the SRI baton, write Lewis McLellan and Sharon Kimathi.
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British Telecommunications and Coentreprise de Transport d’Electricité launched triple tranche bond deals on Tuesday, with demand skewed towards the longer tranches.
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Deutsche Bank has poached one of Goldman Sachs’ top M&A bankers in Europe amid a revamp of its corporate and investment bank by its new management team.
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The spate of equity linked issuance since the market reopened in mid-May quickened on Thursday with the launch of the largest “real CB” in EMEA for more than two years: a $1.5bn deal for STMicroelectronics, one of the region’s most prolific issuers.
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Société de Financement Local (SFiL), a French agency, sold its inaugural dollar trade this week, issuing into an otherwise quiet market.
