Société Générale
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The global high yield bond market has produced $320bn of new issues in 2018, up to December 21, 43% down on last year’s total of $563bn, according to Dealogic. Sentiment has turned progressively more bearish as the year has worn on, with concerns about US-China trade hostility and overvaluation of US equities biting. -
Austria’s Verbund has joined the ESG-linked revolving credit facility fray, with the electricity company signing what leads say is the first such deal in the country.
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Russian Copper Co (RCC) has closed a $250m five year credit facility, marking the second refinancing that RCC has secured this year. The tight margin sparked a sliver of optimism in the market.
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The UK’s CityFibre has signed a £1.12bn debt package from seven banks, as the Goldman Sachs-linked fibre broadband infrastructure provider rolls out its nationwide competition against incumbent firms BT and Virgin Media.
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After back to back record years for non-UK sterling SSA supply, the 2019 outlook is obscured by thick Brexit fog. Nevertheless, public sector borrowers have a host of non-core currency options to tap as currency diversification becomes increasingly important.
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Italy is planning to syndicate bonds in the long end of the curve next year through inflation-linked and conventional formats.
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UK-listed Ophir Energy has amended and extended its reserves-based lending facility, as a surge of end of year deals continue to work their way through the market.
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Société Générale is working to offer its clients direct clearing capabilities in the eurozone by the end of the year, as it launches an offering in Paris for listed and OTC derivatives.
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Fosun Tourism Group, a subsidiary of Chinese conglomerate Fosun International, has raked in HK$3.34bn after sealing its IPO at the bottom of the indicative range.
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Italy found strong demand for a surprise syndicated tap on Thursday — despite a fresh and steep sell-off across its curve throughout the day — proving the peripheral sovereign had access to the capital markets even during extremely difficult conditions.
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