France
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HSBC Asset Management is unifying its alternatives businesses, creating a single 150-strong team led by Joanna Munro, previously the firm’s global chief investment officer, in London.
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Colis Privé, the French parcel delivery company, has revealed that it has received approval from France’s Autorité des Marchés Financiers to list on the Paris stock exchange. Appetite for French IPOs has been mixed in recent weeks, but sources in the country say that a growing domestic bid might be enough to carry new deals across the line. -
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, June 14. The source for secondary trading levels is ICE Data Services.
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Believe, the French digital music company, completed its Paris IPO on Thursday morning but the shares bombed in their first hours of trading in another blow for European listings. However, sources close to the transaction were still pleased to get the deal across the line in what they saw as a boost for the French IPO market after another sizeable listing was pulled last week.
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A year and a half after Brexit, investment banks are still grappling with evolving requirements to run capital markets deals for EU clients from within the bloc, with consequences for the job market there and in London.
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Edenred, the French provider of pre-paid corporate vouchers, is the latest European company to sell a sustainability-linked convertible bond, replicating a structure that has become popular in the regular bond market.
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Investors swarmed on a 12.5m share sale in Verallia, the French glass manufacturer, on Tuesday evening in another example of the recent strong demand and liquidity in the European blocks market.
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Safran, the French aerospace and defense company, has returned to the equity-linked market to sell a new €730m convertible bond.
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Derichebourg, a French waste disposal and recycling firm, is looking to sell €300m of seven year senior unsecured green notes to finance the acquisition of private equity-backed competitor Ecore.
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Deutsche Bank’s recently announced policy on returning to the New York office in September fits what many bankers have been expecting for months and heralds a return to normality. But for a small subset of bankers who left offices in London for lockdown in March 2020, the end of restrictions will also mean a change of circumstances — and getting used to living in a new country.
