France
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La Banque Postale and Société Générale took advantage of favourable conditions in the financial institutions bond market on Monday to launch non-preferred senior deals in euros and make progress towards completing their 2020 funding plans. -
After a rocky two months, the CP market is starting to normalise as spreads track in to their pre-pandemic levels and borrowers find themselves flush with cash.
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Crédit Mutuel Arkéa, Deutsche Bank and Mitsubishi UFJ Financial Group this week sourced environmental, social and governance senior funding in euros, amid a shortage of supply in the format.
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A trio of double-A rated SSA names from South Korea, Central America and France tapped the Swiss franc market this week, raising a combined Sfr550m ($575.8m) and paving the way for other similar issuers to follow.
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Crédit Mutuel Arkéa has joined a fast-growing list of banks marketing Covid-19 response funding in the bond market, raising €750m in non-preferred senior format on Thursday to finance projects through its social bond framework that tackle the effects of the pandemic
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Nordea Bank took advantage of very attractive conditions in the dollar market this week to price a new senior deal at a spread that was well below the fair value implied by secondary trading levels.
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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 1. The source for secondary trading levels is ICE Data Services.
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A pair of foreign banks mandated senior unsecured Australian dollar transactions on Monday: Sumitomo Mitsui Banking Corp is out with initial price thoughts through its Sydney branch, while the Canadian Imperial Bank of Commerce is preparing a Kangaroo benchmark.
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Safran is set to sell a large US private placement this summer, as the French aerospace and defence company looks to extend its maturity profile.
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Neoen, the French solar and wind energy producer, has issued the first green convertible bond in Europe — and investors’ eager reception of the deal suggests these instruments could be as popular in the equity-linked market as they have become in the straight bond market.
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