France

French trucking group Norbert Dentressangle has repaid €653m of loans, after its acquisition by XPO Logistics, and will also redeem its Euro private placement (EuroPP) notes.

Crédit Agricole Home Loan SFH issued a €200m tap of a seven year benchmark covered bond on Thursday. The small tap presented minimal execution risk and was priced with little concession to the curve.

BNP Paribas is set to print its second additional tier one (AT1) trade just two months after its debut, after announcing plans for a dollar denominated sale on Monday.

Second quarter numbers for the big French banks tell the tale of two divergent markets – equities, which has had a buoyant quarter on the back of volatility, especially in Asia, and fixed income, which has languished as credit markets caught fright.

French home equipment retailer BUT SAS on Tuesday offered a €66m add-on of its €180m secured notes suggesting it is studying the acquisition of a franchisee network.

French car maker Groupe Renault may have been the only European high yield borrower in the top 20 global capex champions’ list published by Standard & Poor’s on Monday, but car makers overall gained positions in the ranking.

French municipal lender Agence France Locale could choose a large private medium term note to return to the bond markets after the summer, following a debut syndication earlier this year.

Goldman Sachs, as stabilising agent, partially exercised on July 24 the over-allotment option of Europcar, the French car rental company that floated in Paris a month earlier.

BPCE, the French banking group, sold a €151m block of shares in Nexity, the French real estate firm, on Tuesday evening, as it continued to implement its plan to divest non-core assets.

China concerns have failed to dissuade European corporate borrowers from going about their capital markets business this week, with a number of bonds in the works and acquisition loans progressing.

Citigroup has hired Deutsche Bank’s head of equity capital markets for France to build its market share across France, Benelux and Switzerland.

Agence Française de Développement sold a dollar syndication on Tuesday, but with the latest statement from the US Federal Reserve’s Federal Open Market Committee due on Wednesday further deals are unlikely this week, said SSA bankers.