Société Générale
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Credit Bank of Moscow has tightened price guidance for its euro five year bond, with books in excess of €800m for the Reg S/144A note — an unusual format for a euro deal, but one designed to provide a fall back option of switching to dollars if pricing for the bank’s inaugural euro bond was deemed unfavourable after feedback. -
Société Générale attracted close to €5.5bn orders for a tightly priced new non-preferred senior deal in euros on Tuesday, when it also began marketing two more tranches of loss-absorbing debt in the increasingly popular Euroyen format.
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Blackstone Property Partners Europe on Friday made its third visit to the corporate bond market in eight months and opted for a maturity between its two outstanding bonds. The property fund has now printed €1.75bn of bonds since it sold its Logicor logistics business to China Investment Corp in June 2017.
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BNP Paribas and Société Générale both announced new plans to slim down their investment banks this week. They posted sharp drops in revenue across global markets operations that were, on balance, a bit worse than those registered so far by the rest of the industry.
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The theme in the euro public sector market this week was large book sizes despite issuers paying very little concession, with Finland, the European Investment Bank (EIB), Madrid and the Joint Länder all keeping close to their curves.
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Société Générale announced Jean-François Grégoire’s new job as head of the global markets business unit on Thursday, replacing Frank Drouet. The bank is seeking to slim down the operations of the division.
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On Thursday, Imperial Brands bucked the recent trend of ethical and sustainable corporate bond issuance, but found plenty of demand for its latest deal. The UK tobacco group had not accessed the bond market for more than two years.
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Mashreqbank, the largest privately owned bank in the United Arab Emirates, is embarking on a roadshow to market a dollar benchmark five year fixed rate Reg S senior unsecured bond.
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GlobalCapital revealed the winners of its 2018 Loan Awards at its annual Syndicated Loans and Leveraged Finance Awards Dinner at the Jumeirah Carlton Tower in London on February 6. The complete results are below. GlobalCapital congratulates all the winners and nominees.
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All three public sector borrowers in the euro market on Tuesday received record order books, despite the spreads tightening by up to 5bp during pricing — which left little to no concessions for investors.
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The European Investment Bank on Monday selected the five year part of the curve for its second euro benchmark of the year. The issuer will be hoping to replicate the recent success of public sector agencies in that tenor, including KfW, which achieved a record breaking book for its five year last week.
