Natixis
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Mark Soriano joins Natixis — Deutsche's Frazer Ross is taking a sabbatical — Fidelity hires private credit team -
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A pair of Austrian banks kept a quiet senior euro market ticking over earlier this week. Erste targeted price over size with a new senior deal, while Oberbank attracted a granular orderbook on its first visit to the non-preferred market.
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Natixis has hired Mark Soriano, formerly at Barclays, for its capital structure and rating advisory team.
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Chinese conglomerate Fosun International went to the international debt market on Wednesday for a $500m deal.
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France set a new order book record with its new 50 year syndicated bond on Tuesday. Two other public sector borrowers joined the sovereign at the long of the euro curve.
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Spreads have moved away from their tightest levels, but issuers do not seem put off. France will extend the flood of long end deals with its first 50 year OAT syndication in almost five years on Tuesday.
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Erste Group Bank was first out of the blocks this week to tap the euro market for senior preferred paper, with the lack of competing supply allowing the bank to target 'pricing over size', according to one of the leads.
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Tight valuations in euros are making it difficult for banks to impress investors with new senior trades. Issuers may have to pay up or switch focus to other asset classes to make the most of the January market.
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A number of top staff at Natixis's corporate and investment banking division have started new jobs, the latest moves in a bout of seat hopping at the top table in this part of the bank.
