France
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Agence France Locale hit the market with a September 2027 sustainability bond on Monday, raising €500m at a level one of the leads called "punchy" .
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Yankee banks ensured a record-breaking first half ended on a high, as European lenders took advantage of strong demand for tier two paper.
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes at the end of May
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Agence France Locale is set to sell its first ever sustainability bond, setting up virtual meetings with investors this week. Another debut issuer, NRW.Bank, has just announced details of its inaugural social bond.
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Agence Française de Développement hit the market twice this week, taking advantage of the absence of competing supply to pick up cash in euros and dollars. Thibaut Makarovsky, head of funding and market operations at the agency, discussed the deals with GlobalCapital.
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A worsening in credit conditions has squeezed some borrowers across EMEA out of syndicated loans and into the bilateral market. As syndicated loans bankers face another year of disappointing figures, market players are split over whether this trend will leave a more permanent dent in volumes. Mariam Meskin and Jon Hay report.
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French dairy cooperative Sodiaal has entered the Schuldschein market, according to market sources, on the hunt for at least €100m.
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Agence Française de Développement printed a €1bn tap on Tuesday, while Fondo de Amortisacion del Deficit Electrico (FADE) landed €1.2bn at five years.
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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 business on Monday, June 22. The source for secondary trading levels is ICE Data Services.
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CNP Assurances and Helvetia Europe have added to issuance momentum in the insurance sector, giving investors the chance to put money into subordinated capital. The tier two bonds showed that ‘the market is back in shape’, said one deal arranger.
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Veolia Environnement, a French water, waste and energy management company, raised Rmb1.5bn ($212m) from a three year private placement Panda bond on Monday, pricing the deal inside of expectations.