France

A trio of public sector borrowers ventured beyond the 10 year part of the euro curve on Wednesday — but only two were able to return with cash after one Dutch agency appeared to steal another's thunder.

Euros proved the currency of choice for SSA borrowers on Monday with two new issues, two taps and a mandate in the market across a range of maturities.

Caisse Francaise De Financement Local (Caffil) has mandated leads for seven year covered bond, its fifth euro benchmark of the year. The announcement caused dealers to mark French covered bonds a little wider and suggested that, while market conditions have improved from last week, they are still a bit shaky.

French energy project management engineering and construction company Technip has pulled back from a potential bond offering, blaming volatile markets for its decision.

An agency mandated for its first syndication in four years on Friday, with a deal to follow next week. The unconventional timeframe was in part to allow investors to reacquaint themselves with the borrower, said bankers on the deal.

TDF Infrastructure, the French broadcasting infrastructure operator, gave investors something to sink their teeth into on Thursday, bringing a €600m bond to a recovering but uneasy corporate bond market.

French investment company Wendel bought a €300m no-grow trade to an uncertain, but stabilising, corporate bond market on Monday.

TDF Infrastructure, the French broadcasting infrastructure operator, gave investors something to get their teeth into on Thursday, bringing a €600m bond to a recovering but uneasy corporate bond market.

The French bank has been cutting bankers in its M&A business, marking a shift from growth to profits, writes David Rothnie.

Amundi, the French asset manager formed of the merger of Crédit Agricole Asset Management and Société Générale Asset Management, on Wednesday took the first step towards a public listing in Paris.

China held a series of high level government meetings with the UK and France in September. One of the most publicised pieces of news was the London’s plan for a Stock Connect but perhaps just as important are a number of moves by Euronext to facilitate Chinese investment on its platforms and develop new RMB products.

French investment company Wendel bought a €300m no-grow trade to an uncertain, but increasingly stable corporate bond market on Monday.