Natixis

Sanofi entered the European corporate bond market for the second time in a year on Tuesday, using its favoured triple tranche format and printing short dated notes with a negative yield.

Natixis Pfandbriefbank (NPB) has mandated joint leads for its first publicly distributed Pfandbrief, which will be launched on Wednesday.

Two European real estate investment companies have wrapped up loans in the last week, though borrowing by the sector is lagging behind bumper 2015 volumes.

Compagnie de Financement Foncier (CFF) enjoyed a strong reception for its fourth covered bond of the year, the seventh 10 year issue in little over two weeks. Despite the surfeit of 10 year supply and meagre spread to OATs, the transaction was smoothly executed.

Compagnie de Financement Foncier has mandated leads for the first French covered bond since mid-June, the bank’s fourth this year and the sixth 10 year in two weeks.

HSBC and Santander UK found strong demand for senior bonds issued from their holding companies this week, revealing an opportunity for more deeply subordinated supply such as Nordea’s tier two benchmark.

Santander UK issued a highly oversubscribed senior unsecured euro benchmark from its holding group entity (holdco) on Thursday with virtually no concession, further illustrating the market’s desperate thirst for this higher yielding asset class.

ANZ New Zealand and Natixis Pfandbriefbank have mandated leads to roadshow euro denominated covered bonds.

UniCredit Italy took advantage of constructive conditions and scarce Italian covered bond supply to launch a 10 year on Wednesday. The bank was rewarded with a well oversubscribed order book while paying little new issue premium.

General syndication for a $12.7bn loan to back China National Chemical Corp’s acquisition of Swiss biotech firm Syngenta is set to wrap up.

Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.

Egypt has picked four international banks to manage its upcoming bond sale as it awaits approval on a $12bn extended fund facility (EFF) from the IMF’s executive board.