Société Générale
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Société Générale has moved one of its London bankers to Hong Kong to take over as head of the Asia Pacific debt capital markets syndicate team. -
Two French public sector borrowers are preparing to return to the green bond market, with the latter going on a roadshow to plug its first benchmark issue since 2017.
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Novolipetsk Steel (NLMK)’s $500m seven year bond drew a book in excess of $1.5bn on Wednesday morning allowing leads to tighten initial guidance, which they said offered a 30bp new issue concession.
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Thales, the French defence company, slipped a €500m no-grow three year issue into the bond market on Tuesday, alongside Vodafone's much bigger deal, and after another three-trancher from Becton Dickinson on Monday. All three deals' short dated tranches were priced tightly.
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Vodafone, the UK-based telecoms company, became on Tuesday the latest issuer to enter the green bond market for the first time, delivering on expectations raised when it published its Green Bond Framework last August. The €750m green note was the shortest of three tranches in a €2.5bn deal that drew €8bn of demand.
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Caisse des Dépôts et Consignations (CDC) will introduce its new green, social and sustainability bond framework to investors ahead of a debut euro benchmark sustainability bond.
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Société Générale has appointed Pascal Sefrin as its group country head for Australia.
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Thursday’s corporate bond new issue action in Europe confirmed the picture presented on Wednesday: that investors were determined not to let macroeconomic issues bother them, and were piling into new issues. The day was less blemished than the previous one had been by volatility, enabling issuers to get some very tight spreads.
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Société Générale has raised the prospect of becoming the latest European bank to outsource parts of its equities business as it follows rivals with a cost-cutting drive, writes David Rothnie
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France’s Eiffage has doubled the size of its revolving credit line to €2bn, with the civil engineering construction company becoming the latest name to add social and environmental language to its loan documentation.
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A trio of French companies moved ahead with Schuldschein deals this week, and bankers expect the coming weeks to be packed with borrowers seeking to raise funds before the summer.
