Société Générale

Asian Development Bank received large demand for its inaugural Sonia-linked floater on Tuesday, despite offering no new issue concession. The supranational saw a number of new accounts and was able to increase the size of the deal to set the largest volume it has sold in sterling to date.

Rating: B1/B+

Public sector bond market participants are growing increasingly frustrated at the pace of the implementation of Ester, the alternative euro risk-free rate to replace Euribor. Borrowers are unable to plan for, let alone issue, a bond linked to the benchmark without the rate being published by the European Central Bank. That leaves the euro far behind other markets where Libor is being replaced, writes Burhan Khadbai.

Romania hit screens on Thursday morning for its second dual tranche euro benchmark of the year.

A dearth of corporate bond supply on Wednesday, due to a German public holiday, was followed by deals from airport operators in two markets on Thursday. Aéroports de Paris (AdP) opted for the domestic route, while Heathrow made its first visit to the Australian market.

India’s UPL Corp has launched a $3bn five year term loan into general syndication to support its acquisition of Arysta LifeScience.

Jack Ang is leaving his position as director of bond syndicate at Société Générale to join ANZ, GlobalCapital Asia understands.

The Brussels IPO of Shurgard Self Storage, the largest operator of self-storage facilities in Europe, is covered, less than three working days into the bookbuild.

Banque Fédérative du Crédit Mutuel and Société Générale were both selling multi-tranche senior deals in the yen market this week, as the volume of Samurai bond issuance in 2018 surged past last year’s full year total.

The Republic of Albania returned to the capital markets for the first time in three years on Tuesday, selling a euro benchmark.

The Republic of Albania hit screens on Tuesday to print a €500m seven year no-grow and, in the face of strong demand, was able to pull in the spread.

Société Générale became the first foreign bank to sell a Taiwanese dollar-denominated green bond on Tuesday, giving a fillip to the island state’s nascent green market.