Natixis
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Compagnie de Financement Foncier had been expected to open books for a 10 year benchmark on Wednesday, but postponed the deal blaming market conditions. Rival bankers said the long tenor was the wrong choice for the weak market.
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ChemChina is in the early bird stage of syndication for its KraussMaffei acquisition loan and is targeting relationship banks, according to a banker familiar with the deal. Commitments are due around the end of the month. -
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.
