France
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French agency Caisse des Dépôts et Consignations is set to follow its sovereign by bringing a debut green bond syndication in 2017, after hiring banks on Thursday to run a roadshow for the potential trade. -
Natixis has added another banker to its bond syndicate desk in Paris, to cover corporate bonds.
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UniCredit has made three senior appointments in Asia, including to its management in Singapore and Mumbai, as well as hiring Florence Blazy as a senior banker in France.
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Crédit Mutuel Arkéa found strong demand for a €500m 12 year tier two on Wednesday, as investors showed their appetite for a product that could become a rarer sight in 2017.
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Crédit Mutuel CIC on Tuesday became the first French covered bond borrower to begin and finish pricing at a spread that was markedly through OATs in this part of the curve, but the deal was a smaller size than expected.
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French supermarket chain Auchan Holding on Tuesday came to the bond market for the first time since Standard & Poor’s downgraded its ratings from A- to BBB+ in April, but demand for the credit was said to be “bullish”.
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Shares in Amundi, the French asset manager, fell 1% on Monday after its shareholders gave near-unanimous approval at an extraordinary general meeting to its €1.4bn capital increase to partly finance its €3.545bn acquisition of Pioneer Investments from UniCredit.
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BNP Paribas, which hired a new head of equity capital markets earlier this week, has also hired two senior bankers in its cash equities business and revealed the destination of its outgoing head of ECM.
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A record breaking green bond debut from France rained €7bn of liquidity over an investor base parched of sovereign supply in the format, bringing new promise to the sector. But while other governments will be encouraged into the market, some worry that US president Donald Trump could stunt the market's growth, writes Craig McGlashan.
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