France
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On Wednesday night, the Belgian state conducted one of the largest equity block trades of the year so far – a 2.5% stake in BNP Paribas.
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BNP Paribas reported a big upturn in fixed income revenues in the first quarter of 2017, thanks in part to the terrible quarter that kicked off last year, and to the benign backdrop across almost all markets.
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Caffil enjoyed very strong demand for a two tranche covered bond offering on Wednesday and showed just how much the squeezed technical backdrop is forcing investors' hands.
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Crédit Agricole issued one of three euro benchmark covered bonds this week, attracting demand that topped the combined interest seen in deals issued by Swedbank and HVB.
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Crédit Agricole issued the largest covered bond in three months, and despite pricing through OATs, it attracted the biggest order book in more than two years for a deal of this size.
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Crédit Agricole attracted close to €4bn of orders for a new 10 year preferred senior bond on Tuesday, riding a tremendous rally in credit spreads following the weekend's well-received election result.
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Politicians and regulators might say they want a safer financial system, but they want their banks globally competitive. There’s no better way to ease regulations than to play on these fears — but they’re not always grounded in fact.
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Emerging market loans bankers felt positive about the first round of French presidential election results on Monday but cautioned that they expect little immediate reaction in their sector.
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The result of the first round of the French election has imbued the markets with a fresh confidence, prompting the European Financial Stability Facility (EFSF) to mandate banks for its third dual tranche trade in a row.
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French issuers are still cautious about taking part in the private placement market despite centrist candidate Emmanuel Macron's topping of the first round of voting in the French presidential election on Sunday.
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The corporate bond market is readying itself for a flurry of primary market trades, with risk appetite ramping up after the French presidential election first round passed without any major surprises.