France
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CNP Assurance’s pioneering tier three bond in euros this week will have had funding teams at Europe’s insurance firms gripped. The French firm’s trailblazer in a new asset class has opened an irresistibly cheap source of capital and there is little standing in the way of a flurry of copycat trades, writes Tyler Davies. -
French agency Unédic is looking to set a trend with its new medium term note format to replace its BMTN programme as the chosen vehicle for one to six year debt
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The European Securities and Markets Authority (ESMA) is to hold an open hearing on its plans to introduce an industry benchmarks regulation, having recently published draft technical standards.
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Eurofins Scientific, the unrated French food and drugs testing company, has decided not to proceed with a planned euro bond after completing its roadshow for the deal last week, as investors increasingly take a stand on the market's tight pricing levels.
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French sugar and alcohol producer Tereos on Wednesday sold a tap of its 2023 bond. It plans to use the offering’s proceeds to repay high cost bank credit facilities.
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Investment grade corporate issuers hit the euro bond markets in force on Tuesday with five primary transactions in play, but defensive deal sizes characterised the frantic flow.
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The European Stability Mechanism (ESM) and the Société de Financement Local (SFIL) sold benchmark debt to an increasingly welcoming market for euro-denominated paper on Tuesday.
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The recent surge of primary action in European high yield suffered a blow on Monday when Verallia pulled its €500m pay-if-you-can (PIYC) bond. But the market trotted on and kept its momentum.
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Air Liquide's €3.28bn rights issue, the biggest in the world last year, was a blowout success.
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Sodexo, the French catering, support and care services group, hit the euro market on the same day the US released nonfarm payrolls for a €600m 10.5 year bond that clinched "super tight" pricing.
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Electricité de France tapped three different European investor bases in one go on Thursday as it hit the euro, Swissie and green markets for €3.1bn-equivalent of bonds.
