France
-
Société Générale has issued the first covered bond as a security token on a public blockchain last week. -
-
Equity capital markets bankers are in discussions with European governments about privatisations of state assets, but political upheaval has blocked several projects. Politicians are nervous of damaging headlines if they sell assets to the market.
-
MUFG has relocated 21 staff to Paris, including all its European DCM origination bankers, all its sales people who cover European investors and an MTN banker.
-
Société de Financement Local (SFIL) is preparing a green bond framework ahead of a debut trade for the development bank and its subsidiary, Caisse Française de Financement Local (Caffil).
-
La Banque Postale saved around 2bp on pricing by going green on its latest inaugural 10 year senior non-preferred paper, reaffirming the discrepancy between supply and demand in the euro green bond market.
-
Deutsche Bank has become the first German bank to offer client clearing through CDSClear, the Paris-based clearing house of LCH.
-
French construction company Vinci took advantage of a lull in supply and favourable financing conditions to make its long-awaited dollar market debut.
-
Loxam, the France-based equipment rental company, refinanced a secured and subordinated high yield bond with a twin tranche new issue this week, cutting its funding costs, the spread between the tranches, and showing the strength of the bid for subordinated paper.
-
A French agency and a Belgian sub-sovereign are preparing to issue their first bonds.
-
Crédit Mutuel Arkéa sold a seven year non-preferred senior note on Thursday, in a market where investors are thirsty for supply. The €500m deal attracted €2bn of orders — demand that even surprised the arrangers, given that funds are still ignoring growing risks around a no-deal Brexit.
-
Westpac and Compagnie de Financement Foncier (CFF) kicked off the new quarter on Monday with large euro benchmarks that were priced flat to their curves.
