France
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Two new European Spac IPOs were launched on Wednesday following extensive pre-sounding processes. -
Covered bond and SSA research analysts at Société Générale are set to leave the bank for other firms later this year.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of busiess on Monday, July 12. The source for secondary trading levels is ICE Data Services
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Activity in the recruitment market for sustainable capital markets experts has ticked up this year, as banks looking to staff up in this area see a small but growing talent pool to tap. A recent hire by Santander in London is a good example.
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France stuck to its approach of engaging with investors during bookbuilding to persuade them not to inflate orders for its second syndication in a row this week, when the sovereign brought a new 30 year OAT to the market.
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Two public sector borrowers hit the primary euro market on Thursday, with the International Development Association selling its biggest ever bond in the currency and France’s Action Logement Services extending its curve with just its second ever trade.
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DZ Hyp pulled in a solid order book for its €750m no-grow Pfandbrief that was almost positive yielding. Demand for Credit Mutuel CIC’s more negative yielding seven year was much slower to grow and smaller, making execution less certain.
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Agence France Trésor, the French sovereign debt office, has appointed a new chief executive to replace Anthony Requin, who has stepped down after six years in the role.
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France’s Action Logement Services (ALS) is preparing to issue its second ever bond, after making its debut in the capital markets in October 2019.
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My Money Group is looking to issue a tier two bond this week with an unusual structure aimed at safeguarding its S&P rating following its planned acquisition of HSBC France.
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France impressed SSA bankers as it paid a tiny new issue premium for a new 30 year OAT via syndication on Tuesday.
