Natixis

As Caisse des Dépôts et Consignations (CDC) returned to the sustainability bond market on Tuesday to sell its second bond in the format, fellow French agency Caisse d’Amortissement de la Dette Sociale (Cades) mandated for its own sustainability bond debut.

French agency Caisse des Dépôts et Consignations (CDC) hit screens on Monday afternoon with its second ever sustainability bond, following its debut in the format last year.

Caisse d’Amortissement de la Dette Sociale (Cades) has mandate a pair of banks to help it structure its new social bond programme.

Indofood CBP Sukses Makmur, an Indonesian instant noodle maker, has launched a $2.05bn-equivalent acquisition loan into syndication. The rare appearance of a strong credit in the market this year means banks appear eager to join the deal, writes Pan Yue.

Companies piled into the bond market with hybrid capital issues this week to raise €4.95bn between them, as syndicate bankers say that they are encouraging as many borrowers as possible to consider pushing out higher risk trades before raising senior debt.

Total, the French oil and gas major, continued the strong run of hybrid trades in the corporate market this week, launching a chunky €1bn note 37.5bp inside initial price thoughts on a yield basis.

The State of North Rhine-Westphalia and Nederlandse Waterschapsbank rebooted the long of the euro SSA curve on Wednesday with well subscribed deals and minimal new issue premiums.

The State of North Rhine-Westphalia and Nederlandse Waterschapsbank will be the first two public sector borrowers to test investors’ appetite for euro deals in the long end of the curve following the summer break.

China Jianyin Investment (JIC) and Nanjing Jiangbei New Area Industrial Investment Group were among two Mainland Chinese companies to sell dollar bonds on Thursday.

The coronavirus crisis has reshaped many aspects of finance, but not the line-up of top investment banks. It does appear to have pressed some firms into sharp decisions, though.

Société Générale and Natixis have purged their senior ranks following second-quarter losses and to prepare for strategic revamps, but David Rothnie thinks the future will remain challenging for both.

A pair of German sub-sovereigns had the primary public sector bond market to themselves this week, with each taking €500m at tight levels to their secondary curves.