Natixis

Bpifrance managed to increase a 15 year deal from its target size on Wednesday despite rocky government bonds markets, but had to print at the wide end of guidance and initial price thoughts.

Wednesday was another deal-less day for Europe's investment grade corporate bond market, as choppy conditions led borrowers to shun issuing — despite a packed pipeline.

Public sector bond markets are under threat from violent price moves and low liquidity for months to come, warned SSA bankers, after government bonds sold off sharply on Wednesday.

Bpifrance is looking to revive the 15 year part of the euro curve, as SSA issuers and bankers heed European Central Bank president Mario Draghi’s advice to endure volatility.

Uralkali, the Russian potash fertiliser producer, has added a further $25m to a recent loan agreement, which it had already increased by $100m last week.

Exeltium, a French consortium that negotiates stable and competitive electricity pricing for its industrial shareholders, has agreed a €1.4bn senior debt refinancing with investors.

The Egyptian sovereign, although beset by economic and political challenges, still drew hundreds of investors into a $1.5bn 10 year bond on Thursday — marking a triumphant return to the public bond market after a five year absence.

Yorkshire Building Society mandated leads for a roadshow on Wednesday to market a euro denominated benchmark covered bond, the issuer’s first in a year.

Ghana National Cocoa Board (Cocobod) has completed the early bird senior phase of its annual loan syndication with a strong oversubscription, said bankers involved in the deal.

Uralkali has added $100m to a loan it recently signed with international banks, demonstrating the benefit for Russian borrowers of including an accordion feature.

Banks steered clear of the European bond markets on Monday, as the vast majority of last week’s primary prints languished wide of their re-offer levels.

Nexans, the French cable manufacturer, became on Friday the first double-B rated issuer to pull a European high yield bond this year. It cited unfavourable pricing and volatility in the market.