Natixis
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Schneider Electric, the French electrical equipment company, and Carlsberg, the Danish brewer, zipped through the open window for corporate bond issuance on Wednesday, as bankers say coronavirus volatility has made this a market for opportunists. -
Coronavirus fears and plunging markets meant a flood of pulled deals in leveraged loans — but a strong backdrop for some, notably French medical diagnostics and testing business Biogroup-LCD which launched a €274.7m acquisition loan into general syndication through JP Morgan and Natixis on Tuesday.
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Two German states rebooted the primary SSA market on Tuesday with intraday deals at the opposite ends of the euro curve. The five year deal was almost two times covered but there were no book updates for the 15 year.
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TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.
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Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.
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Natixis has appointed Aurélien Lasjunies as head of Asia Pacific coverage for its corporate and investment banking division, poaching him from French peer Crédit Agricole.
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Teréga, the French gas transport utility, enjoyed chunky demand for a €400m bond issue on Thursday, despite its sub-benchmark size.
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BPCE raised senior bond funding in sterling on Thursday, making use of constructive conditions in the currency. The lender launched its deal at a spread that, on an after-swap basis, was roughly in line with where it could have landed in euros.
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Alain Gallois will become Natixis’s global head of investment banking, replacing Mohamed Kallala. The latter is heading over to run global markets, with that role’s incumbent, Luc François, leaving the bank.
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The Islamic Development Bank hit the market for a five year dollar benchmark on Wednesday, raising $2bn at a spread of 40bp to mid-swaps.
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Belgium was able to print a large 20 year benchmark bond on Tuesday, pulling in a book of €27bn. But despite the size of the demand, investors were reluctant to follow the price more than 1bp from initial guidance.
