France
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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. -
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.
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The IPO of Believe, the French digital music company, was covered on its full, if smaller, deal size on Friday morning, bringing some joy to an IPO market that continues to be hit by volatility and investor reticence over new deals.
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French engineering company Vallourec has unveiled plans for a €300m rights issue to help return its balance sheet to a sustainable footing, following a recovery in the oil industry after the slump in demand caused by the Covid-19 pandemic.
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Bouygues, the French industrial group, sold its final large block trade in Alstom on Tuesday night in an effective clean-up. Investors jumped at the last chance they had to buy shares in the French rail company from Bouygues.
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PrimaryBid, the app that helps UK retail investors invest in share sales by London-listed companies, is launching in France as part of its ambition to expand into markets across Europe.
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French digital music company Believe has fixed the terms for its €300m IPO on Euronext Paris, after scaling back the deal size amid a challenging market for new stockmarket listings in Europe.
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Bpifrance launched a rare Friday deal this week, raising €1bn with a 10 year benchmark and managing to move the spread 3bp.
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Prospects for companies to issue more social bonds rose this week, with the debut issue by Electricité de France, a borrower with a long and influential track record in the green bond market.
