Natixis
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Compagnie Générale de Géophysique, the French geological surveying company, has launched a three-for-one rights issue to raise €350m, as it struggles with its debt burden and oil companies cutting back on exploration.
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Plans to create a new tier of debt in France has put minds at ease about the status of existing senior bonds, bolstering their performance and clearing the way for what could be a very busy year for French banks. -
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The Slovak Republic sold its €1bn 15 year bond on Thursday in what proved another lesson for bond syndicates in how inaccurate CEE sovereign secondary curves can be as a measure of where to price new bonds.
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Chemicals group ChemChina will use the proceeds of a bridge facility to support its €925m acquisition of German manufacturer KraussMaffei Group, announced on Monday.
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A trio of Spanish issuers launched the first covered bonds of the year from southern Europe this week but, with peripheral spreads widening sharply, conditions are not conducive to further supply.
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FIG issuance ground to a halt on Thursday as borrowers paused to reflect on weak secondary trading and a global sell-off in equities, leaving Dexia Crédit Local alone in the market.
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The Slovak Republic has firmed price guidance for its 15 year bond to 38bp over mid-swaps, with the book size standing at more than €800m.
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The Slovak Republic has mandated three banks for a Reg S 15 year public benchmark. It added that it will wait until the second quarter of the year at the earliest to tap the private placement market.
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The Sultanate of Oman signed a $1bn five year loan on Tuesday, with 11 banks in the oversubscribed deal, despite the sovereign being hit by a downgrade in the middle of the deal.
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A bevvy of public sector borrowers are lining up euro deals for Tuesday and beyond — but some are opting to hold back price thoughts amid a cluttered and volatile backdrop.
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B&B Hotels, France’s third largest budget hotels group, launched a covenant-lite senior term loan to early birds this week, backing its €800m buyout by PAI Partners from the Carlyle Group and Montefiore Investment.
