Société Générale
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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. -
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.
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Dubai headquartered ports authority DP World is guiding the market for a 10 year dollar sukuk, a 30 year 144A/Reg S dollar bond, an eight year 144A/Reg S euro bond and a 12 year sterling bond.
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MCS Groupe opened a roadshow for a new 2024 floating rate bond this week, as it seeks funding for the acquisition of DSO Group to create a leading player in the debt repurchase industry in France.
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Korian, the French operator of care homes for the elderly, has raised €60m via a tap of the popular €240m perpetual hybrid convertible bond it issued in June 2017.
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Japanese issuers are not frequently seen in the European corporate bond markets, but this week could have two companies going head to head with benchmark euro transactions. Japan Tobacco will sell its first new issues in Europe, while Toyota is better known to investors on the continent.
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Cyprus picked banks on Monday for its first euro benchmark in the 10 year maturity since 2015, following S&P's return of the sovereign to investment grade status.
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Société du Grand Paris mandated banks on Monday to market its debut green bond.
