France

French car rental company Europcar is withdrawing its support from Team Europcar and its worldwide brand exposure. Despite this, investors remain keen on the company and its ability to retain its leadership in the European car-hire market.

Société Générale’s head of EMEA structured finance and loan syndication has moved to a new job within the bank and his responsibilities have been assumed by two colleagues.

Europe’s corporate bond market is catching its breath before an expected power dash of deals, but the loan market continues to bring deals and leveraged borrowers are gearing up for a big push on acquisitions.

Crédit Agricole’s head of long and medium term funding has moved over to the investment bank to work on capital structuring

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.