Natixis
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A fundraising for a unit of China National Chemical Corp is set to increase to €630m ($683.6m) from the launch size of €600m, after more than 10 banks piled into the syndicate. -
FIG bankers rejoiced this week as two markets that have been much maligned this year — insurance capital and sterling senior — showed enduring appeal just in time for a year end funding grab.
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Banks can look forward to regularly pricing green bonds inside their vanilla senior curves, some FIG bankers believe, after BPCE launched the latest in a succession of tight trades on Wednesday.
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BPCE issued final guidance on Thursday for its latest multi-tranche Samurai sale, giving investors plenty of choice with two senior and three subordinated tranches.
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Solar power producer Etrion has more than halved the all-in interest payable on its Italian debt facilities with a €222m refinancing package.
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Banks can look forward to regularly pricing green bonds inside their vanilla senior curves, some FIG bankers believe, after BPCE launched the latest in a succession of tight trades on Wednesday.
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Investors showed enduring appetite for insurance capital on Wednesday as Scor found more than €2bn of demand for the second French deal in as many days.
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BPCE is on the road for its own green bond this week and, after HSBC added to the recent green glut with a tightly priced €500m five year deal, banks are far from quenching their thirst for the asset class.
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Groupe Fnac, the French retailer of books, music and electronics, has signed €865m of loans for its €615m acquisition of Darty, the London and Paris-listed French electricals retailer.
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An aura of misery has hung over fixed income businesses for years. UBS slashed its business in 2012; now Deutsche, Barclays, Credit Suisse and Standard Chartered are also taking “tough decisions” about the size of their bonds businesses. So it was a pleasant surprise to see Alain Gallois, head of fixed income at Natixis, in good spirits.
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Swedbank bucked a trend of issuers turning to covered bonds for funding on Thursday when it launched a five year fixed rate senior deal.
