France
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BNP Paribas has promoted one of its rising stars, underlining a new determination at the bank to translate its supremacy in the corporate banking sector into success across all of its investment banking products, writes David Rothnie.
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Rallye, the French listed holding company that controls supermarket group Casino, on Wednesday became the first issuer to use an equity-neutral structure on an exchangeable bond, rather than a convertible.
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Berlin Hyp issued a €175m tap on Wednesday after it emerged that Crédit Agricole would not be proceeding with its previously announced 10 year. Meanwhile, Hypo Oberoesterreich signalled its intention to press ahead with its debut covered bond. -
Despite an IPO market strewn with casualties, three of the largest European IPOs of the year are progressing through bookbuild.
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French asset manager Tikehau Capital has added to its ranks by hiring a deputy managing director in a newly created position.
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Crédit Agricole has mandated leads for a rare public sector-backed €500m 10 year Obligations Foncieres.
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A sell-off in eurozone government debt last week, over rumours that the European Central Bank might start tapering its quantitative easing programme, may have helped issuers bring more shorter dated deals in euros this week than have been possible for months — but some issuers are wary that more volatility could be ahead.
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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.
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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.
