Société Générale
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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.
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Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.
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Société Générale has hired a new head of M&A for France, replacing Alexandre Courbon. Two bankers have also been appointed to lead the diversified industries sector.
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Actividades de Construcción y Servicios, the Spanish building and services firm run by Florentino Perez, is seeking to list its renewable energy unit, Zero-E, as early as autumn 2019, according to two sources close to the transaction.
