France
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French retail property group Klépierre issued a €600m 15 year bond on Monday, taking investors down the maturity range with the promise of yield. -
Veolia Environnement priced its debut Panda bond on September 1, becoming the first French issuer to tap the onshore Chinese market. The firm was also one of the first corporates to be allowed to repatriate funds out of China despite ongoing capital controls, its treasurer told GlobalRMB.
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The Autorité des Marchés Financiers, the French securities regulator, has set out its approach to new rules on research, introduced as part of the MiFID II package, which could see the volume of sellside research slashed. The French proposals could set the tone for the rest of Europe’s regulators, ahead of implementation of the rules at the beginning of 2018 — but it still leave questions hanging over fixed income.
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French asset manager Tikehau Capital has completed its first syndicated loan, drawing support from eight banks, following a run of equity and debt raisings.
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Thom Europe, the French jewellery retailer owned by private equity firm Bridgepoint, sold a €190m tap of its 2019s to fund the acquisition of Stroili Group, an Italian peer.
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Shares in Air Liquide, the French supplier of industrial and healthcare gases, closed 4.8% higher on Tuesday after it announced the full terms for its €3.3bn rights issue, to refinance a loan used to buy Airgas, a US competitor, in May.
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Compagnie de Financement Foncier (CFF) enjoyed a strong reception for the seventh 10 year covered bond in little over two weeks.
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Eurofins Scientific, the French laboratory testing firm, has successfully completed a €296m capital increase, nine months after a similar transaction failed due to a lack of demand.
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Veolia Environnement became the first French company and only the second European corporate to issue a Panda bond, raising Rmb1bn ($150m) this month with a privately placed note.
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Société Générale raised $1.5bn of additional tier one capital on Tuesday, following in the footsteps of four of its European peers this summer.
