Natixis
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Nexity, the French property developer, increased a convertible bond issue from €180m to €200m on Tuesday after receiving strong demand. -
The Islamic Development Bank (IsDB) has mandated eight banks to roadshow a benchmark five year Reg S sukuk with a view to adding a 10 year tranche as well.
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Republic of Senegal is planning to make its first funding foray into euros, following its fellow West African nation Cote d’Ivoire to fund in its natural currency.
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Kernel, the Ukrainian grain and sunflower producer, has signed a $100m pre-export finance facility with a syndicate of European banks.
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French electrical equipment manufacturer Legrand used the same no-grow approach as on its previous two deals for the only new issue in the investment grade corporate bond market on Monday.
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Assystem Technologies, a French engineering specialist owned by Ardian, is launching an add-on to its term loans to fund its purchase of German peer SQS Software Quality Systems, as merger and acquisition deals gain share in the leveraged loan market.
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French property companies were in vogue this week as Icade sold its fourth corporate bond in two years, further extending its redemption profile, while Mercialys, the firm spun off from supermarkets group Casino, saw its sub-benchmark deal 2.5 times oversubscribed.
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The public sector bond market in euros is in rude health thanks to the return of stability at higher yields. Two borrowers took advantage of the conditions to pull off smooth executions with skinny new issue premiums on Thursday.
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Borrowers have broken the 10 day spell without a deal in the European high yield market, and are coming back with refinancing deals. Faurecia, the French car parts manufacturer, opened the new batch with a refinancing deal on Thursday.
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French issuers ALD and Mercialys continued the triple-B theme of the week in the investment grade corporate bond market when the pair announced new deals on Tuesday. These followed three BBB+ rated credits on Monday.
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French property company Icade saw the announcement that the 2024 Olympic Games will be held in Paris as a positive for its portfolio in the French capital. On Monday it sold its fourth corporate bond in two years, creating a steady redemption profile beyond the date of the Games.
