France

GenSight Biologics, a niche French biotechnology firm focused on treating degenerative retinal and nervous system disorders, has completed its all-primary IPO on Euronext Paris, raising €46m to help bring its flagship drug GS010 to market in Europe and the US.

Agence Française de Développement looked set to become only the second borrower to emerge with a euro benchmark since the UK’s Brexit vote after announcing plans for a new 10 year on Tuesday.

Foncia, the French residential real estate company, on Tuesday began marketing its €1bn LBO loan into an "issuer friendly" market, according to one investor.

Tikehau Capital, the French asset manager that specialises in private debt, has raised €510m of new share capital, including from Temasek and the Peugeot family, as it targets opportunities outside Europe.

Covered bond secondary market volumes saw a small improvement on Thursday, but with limited supply and continued central bank buying, the market is set to become more technically squeezed over summer.

Covered bonds saw a relative improvement in flows on Thursday, but with a limited supply outlook and continued central bank buying, a technical squeeze had begun to take hold. CIF Euromortgage performed well after regaining preferential regulatory treatment.

The European investment grade corporate bond market has been ticking along like a metronome this week, printing a steady deal a day. And encouragingly, big deals have returned.

GenSight Biologics, a French biotechnology firm specialising in treatments for degenerative retinal diseases and central nervous system disorders, has opened the books for its all primary IPO on Euronext Paris.

Orpea, the French retirement home provider, has completed a €276.5m Schuldschein deal just days after the UK voted to leave the European Union, with the deal closing oversubscribed despite upheaval across European financial markets.

Groupe SEB, the French kitchen appliance and coffee machine maker, has added three banks to its group in the syndicating of its bridge loan.

This week's scorecard looks at the progress French agencies have made halfway through the year.

French data processing services firm Tessi is marketing €276m of loans to fund its acquisition by Dentressangle Initiatives, as some pressures on the levloan market from EU political tensions recede.