French Sovereign
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The French central bank, the Banque de France, signed a memorandum of understanding with the Hong Kong Monetary Authority (HKMA) on October 28. The partnership is targeted at increasing co-operation in RMB business for banks and corporates. -
Klépierre, the French real estate investment trust that specialises in shopping centres, issued a €500m 10 year bond on Tuesday and launched a tender offer for two other issues, to extend the maturity of its debt.
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French chemicals company Arkema has closed the syndication of the €1.5bn bridge facility for its €1.74bn acquisition of Bostik.
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Arkema, the French chemicals company, launched its hybrid bond issue successfully on Thursday, having decided to press ahead with the deal despite market conditions that are much less favourable for higher risk deals than in September.
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Fitch put the AA+ rated covered bond programmes of Caisse Française de Financement Local (Caffil) and Compagnie de Financement Foncier (Coff), and the public sector programme of BNP Paribas, on rating watch negative (RWN) last Friday (October 17), following identical action on the French sovereign earlier in the week.
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Arkema, the French chemicals company, launched its hybrid bond issue successfully on Thursday, having decided to press ahead with the deal despite market conditions that are much less favourable for higher risk deals than in September.
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French film studio EuropaCorp has closed $450m of five year loans with a $150m accordion option, replacing its existing $160m revolving credit facility. The company says it will use the increased financing to fund English language movies.
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Arkema’s roadshow for its possible €600m-€700m perpetual non-call six year hybrid bond issue finished today in Germany, following investor meetings in Paris and London which the leads say were well attended.
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The European corporate bond new issue market got back to business on Monday, with a successful €500m 15 year issue for Airbus.
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Arkema, the French chemicals company, announced on Tuesday a roadshow for a hybrid capital issue, despite volatile market conditions in which corporate hybrids in particular have been knocked wider.
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European aerospace firm Airbus has completed a €3bn loan syndication to amend and extend its €3bn five year revolving credit facility, attracting the support of 40 banks.
