Natixis
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The Republic of Latvia sold its €650m 1.375% 20 year bond on Tuesday — a deal that attracted $2bn of orders. -
Natixis has been able to distance itself from other French banks struggling in the fight to remain profitable. But after reporting disappointing first quarter results on Tuesday, the bank’s armour looks to have been dented.
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Uncertainty regarding the outcome of the US Federal Open Market Committee’s (FOMC) meeting in June drove public sector borrowers to target the short end of the dollar curve this week, said bankers.
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Agence France Locale is set to bring its second ever syndication on Wednesday, after unveiling details of the trade on Tuesday.
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Oil products storage and distribution firm Puma Energy has increased the size of its latest revolver to $800m from $500m, with 35 lenders making commitments. The company has also managed to extend the maturity on part of a three year facility raised last year.
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RCI Banque was one of four corporate issuers in the European bond market on Tuesday, as it printed €600m of seven year notes that won the skinniest new issue premium of the day.
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Kaufman & Broad, the French housing developer, completed its ‘re-IPO’ on Thursday, increasing its freefloat from 9% to 45% in a deal that totalled €257m before the greenshoe.
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French retailer Fnac has agreed a short term loan agreement to finance its acquisition of Darty shares, made during its bidding war with South African retailer Steinhoff.
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Natixis has announced that Selim Mehrez will replace Alain Gallois as global head of fixed income, alongside a string of other appointments in its corporate and investment banking business.
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Investors poured into Belgium’s debut 50 year benchmark vintage this week, with demand so strong that bankers are confident other issuers could soon sip liquidity from the ultra-long tenor.
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Türkiye Vakiflar Bankasi, or VakifBank, this week issued the first publicly syndicated Turkish covered bond, sending a powerful message to other Turkish banks and emerging market issuers that the investor base is wide open and eager for more EM names.
