Société Générale
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Ford Motor Credit and Aéroports de Paris issued investment grade corporate bonds in Europe on Tuesday, while Spie joined them with an IG-style but high yield-rated deal. -
Caisse des Dépôts et Consignations (CDC) on Tuesday came to market with its debut sustainable bond, the first under its new green, social and sustainable framework.
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The CEEMEA region is lining up one of its busiest fortnights of the year for bond issuance as Black Sea Trade and Development Bank and the Republics of Serbia, Croatia and Lithuania join a swathe of EM issuers already on the road. JP Morgan looks to be solidifying its position at the top of the CEEMEA league tables — it has been picked for every one of the deals mandated on Tuesday.
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ING puts Kennedy at risk — BofA’s Tannenbaum given levfin role — Barclays hires equities chief
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Eutelsat, the Baa3/BBB- rated satellite company, launched a benchmark eight year euro bond on Thursday, into a market kept empty by the European Central Bank's press conference. Bilfinger and Cabot were the only other corporate issuers.
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Magnitogorsk Iron & Steel Works (MMK) broke a 16 year bond market hiatus with a five year dollar benchmark on Wednesday, raising $500m without paying a new issue premium.
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The US’s Occidental Petroleum has completed an $8.8bn loan and is raising a $13bn bridge to back its $57bn purchase of Anadarko Petroleum, with a bevy of lenders getting in on the action.
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Société Générale’s planned round of redundancies, set to happen in the third quarter of the year, will focus on staff in its markets business. Around 30% of the 1,600 cuts are expected in that division.
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Magnitogorsk Iron and Steel Works (MMK), the second largest steel producer in Russia, released price guidance for a $500m five year bond on Wednesday at a level that one EM investor said looked “interesting”.
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After 10 days of very scanty issuance and some weak markets, more stable conditions on Tuesday brought a salvo of five deals to the euro corporate bond market, offering a wide range of single-A and triple-B credits.
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Russian potash fertiliser Uralkali has signed its five year $1.45bn-equivalent loan with 13 lenders joining the syndicate. With Uralkali and Suek now signed, lenders have started to prepare for EuroChem.
