Natixis

After making its debut in the capital markets last week, France’s Action Logement Services (ALS) plans to issue bonds and private placements across various maturities under its 100% sustainable euro medium-term note (EMTN) programme.

French car parts supplier Faurecia dipped into the bond markets again as it prepares to take over full control of its joint venture with Continental. It is adding €250m of senior notes to the €500m of 2026 notes it issued in the spring.

Rusal has signed the first internationally syndicated sustainability-linked loan from Russia. The heavily oversubscribed facility is part of a slowly growing shift towards green financing in Russia, said bankers.

Investors piled into a new hybrid bond for hotel group Accor this week to oversubscribe the €500m deal by almost six times. The demand reflected a ramping up of the hunt for yield as the European Central Bank stokes the fires of its corporate bond buying programme.

France’s FFP issued a €300m no grow seven year debut bond on Wednesday, marking a rare market outing from an unrated French credit this year.

France’s Unibail-Rodamco-Westfield has set final terms on a €750m trade, with the commercial real estate firm ramping up the size while whittling away at the spread to around a single digit new issue premium.

The European Stability Mechanism has chosen a five year tenor to kick off its funding for the fourth quarter. Meanwhile, a French public sector agency is out with its debut sustainable benchmark bond.

The UAE's Emirates Water and Electricity Co and Saudi Arabia's Acwa Power have secured loans of Dh2.71bn ($738m) for Abu Dhabi-based Taweelah power and water desalination plant.

La Mondiale gave investors a rare chance to put money in restricted tier one (RT1) ranks this week. The bond was oversubscribed by more than 10 times but the insurance company paid a hefty premium to do the deal, according to one source away from it. However, one of the leads disagreed and said the bond was priced “probably inside fair value”.

BPCE and Banca Farmafactoring launched senior deals this week, with both issuers enjoying healthy receptions to their offerings. BPCE’s non-preferred mandate drew over €2.75bn of orders and the Italian issuer saw its preferred bond attract €850m at the spread level.

Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week.

Russian potash producer Uralkali hit the market on Tuesday, tightening pricing on a $500m bond issue, the borrower's first international deal since 2013. DCM bankers are confident Russian issuance will continue to fill the market throughout the fourth quarter, as Norilsk Nickel began a roadshow.