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  • Société Générale said on Wednesday that Didier Valet, deputy chief executive of the bank and former head of CIB, would be leaving the group — a move driven by US authorities' investigation into the manipulation of Libor.
  • The ECB has published an addendum to serve as guidance for all future non-performing loans. The measure is non-binding and will serve as the basis for dialogue between the ECB and the banks it regulates directly.
  • Dong Yin Development, a subsidiary of China Orient Asset Management Co, has hit the syndicated loan market for the first time for a $100m transaction, according to a source close to the situation.
  • Debt bankers in Asia hit a temporary pause button on Wednesday when no dollar deals were launched, as the market recovered from the overwhelming supply in recent weeks. But it was back to business on Thursday, with issuers braving rough conditions to hit the market.
  • DoubleDragon Properties Corp is nearing the launch of its first post-IPO liquidity event, which has been in the works for half a year.
  • Frustration boiled over at the Futures Industry Association's (FIA) annual Boca Raton meeting on Wednesday, with Commissioner Brian Quintenz of the US Commodity Futures Trading Commission (CFTC) threatening European regulators with obstruction.
  • British Airways made a rare appearance in the Enhanced Equipment Trust Certificate (EETC) market on Wednesday with a dollar-denominated offering.
  • Morgan Stanley analysts wrote on Tuesday that the rally in CMBS is getting long in the tooth, though this has not halted appetite for new issuance, including a Blackstone-backed deal refinancing a loan secured on Chicago’s famed Willis Tower.
  • Swissport, the aviation services group, this week launched a €325m add-on to its euro leveraged loan to finance its acquisition of Aerocare, a peer based in Australia.
  • SSA
    The European Bank for Reconstruction and Development (EBRD) has introduced a new theme to market for socially responsible investments, printing a “health bond” in Polish zloty.
  • The African Development Bank was awash with superlatives from SSA bankers watching on jealously as it printed a $2bn March 2021 global through mid-swaps on Wednesday. The supranational — like other SSAs in dollars this week — benefited from widening swap spreads that some analysts believe have further to go.
  • Steinhoff International, the embattled South African retail conglomerate, sold a €251m block of shares in KAP Industrial Holdings on Tuesday, as it continues to raise money to plug holes in its balance sheet, but doubt remains about whether much is left to salvage from the business.