Société Générale
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Spain’s largest department store group, El Corte Inglés, picked a busy week to roadshow its first rated issue. But its bonds will be listed in Dublin, despite efforts from the Spanish financial regulator to force a domestic bond listing in Madrid. -
The Republic of Albania will go on the road to promote a euro benchmark transaction for the first time in three years.
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Emerging markets-focused mining firm Trevali Mining has amended and extending an existing loan facility, bringing its revolving credit facility up to $275m.
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UK telecoms provider BT Group avoided competing with six new issues on Thursday and found itself with no competing supply for its latest corporate bond deal on Friday. While BT’s ambitions for the size of its deal this time were more modest than previous trades, the demand was still strong, allowing it to print tight to secondary levels.
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French construction and concessions group Vinci sold its first public benchmark corporate bond deal in more than five years on Tuesday and was overwhelmed by both the quantity and quality of its order books for the dual tranche deal.
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French car maker Renault extended its maturity profile with a new eight year deal on Thursday. The decision resulted in a deal more than three times subscribed and at a new issue premium of just 5bp.
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Japan Tobacco took the rare step of issuing corporate bonds in three different currencies on the same day when it sold its debut euro and sterling bond deals alongside a pair of dollar tranches this week. The unusual move proved to be a successful one however, with each tranche at least three times subscribed.
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French electricity grid operator Réseau de Transport d’Électricité this week took the record for the largest order book for a new 20 year corporate bond in style when it received €5.5bn of orders. The size of the demand was more than double the €2.3bn book, which had given the record to French tyre manufacturer Michelin three weeks before.
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The deal drought in French equity capital markets may soon be over after Neoen, one of the largest renewable energy companies in Europe, filed to go public on Thursday.
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Cyprus won huge demand for its return to the 10 year part of euro curve on Tuesday, with the final book almost four times covered. The deal should set a good backdrop for Greece to come to the market in the same maturity — as long as it pays up a sizeable concession, according to SSA bankers.
