France

The 10 year Bund yield hit a record intraday low on Tuesday, as a German region increased a deal size and a French agency lined up an unconventional eight year deal.

Île-de-France will open books for its fourth green bond on Tuesday morning, in spite of troubling US jobs data.

Four banks have undewritten a bridge facility to support Groupe SEB's acquisition of WMF Group and the company is understood to be considering a small syndication of the facility.

French textiles and apparel manufacturer Chargeurs has agreed its debut Euro PP — a €25m seven year deal — as well as a €32m bank facility.

French car hire firm Europcar Group on Tuesday sold a €125m tap of its 2022 bond in a high yield market that is longing for more single-B issuance.

Philips Lighting and Maisons du Monde’s IPOs have run precisely along the same timelines, with many similarities in how the sales went, and today their debut trading performances also ran in parallel, as both stocks jumped. Philips Lighting closed up 10% and Maisons du Monde 5.9%.

Banque Fédérative du Crédit Mutuel (BFCM) became the latest bank to print floating rate senior unsecured notes on Friday, as tightening fixed rate spreads make floaters more attractive to buyers.

The IPOs of Philips Lighting and Maisons du Monde both reached successful conclusions on Thursday. Their books built gradually, which a banker said boded well for them to trade solidly when they are listed, unlike some recent soggy performers like Telepizza.

Fnac held the bank meeting for its €1.35bn acquisition loan last week and aims to wrap up the deal by early June, according to a banker on the deal.

Scor added a tightly priced subordinated deal to the growing number of insurance trades in recent weeks, although some analysts fear the borrower's spreads are set to deteriorate.

SNCF Réseau sold a dual tranche euro deal on Friday, its second benchmark of the year. The French agency is stepping up its benchmark activity in light of increased funding needs, according to a banker at one of the leads.

The European Financial Stability Facility is the biggest confirmed name for euro issuance next week, with a wide variety of trade options open to it, according to bankers.