France

The growth of corporate issuance in the green bond market is a compelling trend in modern capital markets. While this growth will continue, market entrants must pay heed to the market’s unique demands, say Antonio Keglevich, head of green bond origination, and Robert Vielhaber, green bond analyst at UniCredit

European Investment Bank has launched its first equity index-linked bond dedicated exclusively to renewable energy and energy efficiency projects as the Climate Bond Initiative begins a public consultation on a proposed standard for water bonds.

Groupe Fnac, the French book, music and electronics retailer, has signed €865m of loans for its €615m acquisition of Darty, the London and Paris-listed French electricals retailer.

Danone returned to the corporate bond market on Monday for the second time this year, with a €750m 8.5 year bond.

A second French agency is looking to tap the belly of the euro curve this week and will be hoping to repeat Agence Française de Développement’s earlier success in the currency.

BPCE has registered to sell more Samurai subordinated bonds, looking to build on a successful debut in the format earlier this year, as European banks diversify their sources of new capital.

Another SSA issuer is lining up a seven year euro deal after three borrowers tapped that spot to the tune of over €2bn this week.

Groupe BPCE launched its first tier two deal of the year on Friday, taking advantage of a buoyant market requiring slimmer new issue premiums.

The dollar market showed its appetite for diversity this week as Société Générale printed the first 30 year tier two bullet by a French bank and ING printed its debut green bond.

BNP Paribas moved beyond its capital raising plan for 2015 this week as it launched its third tier two transaction of the year, bringing it close to fair value.

Groupe SEB, the unrated French domestic appliances manufacturer, pulled in a €2.5bn order book for a €500m no-grow bond on Wednesday.

Réseau de Transport d’Électricité issued a benchmark 10 year bond on Thursday that grew to €1bn, as a French-driven order book for the bond hit €3.5bn.