Société Générale

Bank Gospodarstwa Krajowego, the State Development Bank of the Republic of Poland, is marketing a dual tranche euro bond.

ZTE Corp’s travails have taken a toll on the Chinese telecommunications firm and its bank lenders, with the company seeking a waiver after a covenant breach on a $450m loan. Despite the Chinese government throwing its weight behind ZTE, smaller lenders in the syndicate are worried about the ramifications, writes Pan Yue.

German chemicals supplier Lanxess found a surprising lack of demand for its first bond issue since September 2016, which sent bankers scrambling to re-examine their plans for next week's burgeoning corporate pipeline. Lanxess's struggle comes as new issue premiums and how far deals tighten through the bookbuild are being increasingly scrutinised as the market begins to imagine life in the European corporate bond market without the safety net of quantitative easing. Nigel Owen reports.

Société Générale has hired a veteran derivatives trader as its head of equities and equity derivatives.

On Wednesday, German chemicals supplier Lanxess found a surprising lack of demand for its first corporate bond issue since September 2016. Onlookers suggested this is was not a good sign with a heavy pipeline building for future weeks.

Investors poured into Korea Water Resources Corp’s $300m green bond on Tuesday, satiating their thirst after a rare offering from the state-owned issuer. The deal got a boost of liquidity after the bookrunners tapped a growing pool of green-focused investors.

Investors are hedging and betting on oil prices as markets remain unsure about whether or not US President Donald Trump will pull out of the Iran nuclear deal.

Chinese telecommunications firm ZTE Corp, which has failed to comply with a covenant on a $450m syndicated loan due in July, has requested lenders to waive the breach, according to bankers close to the situation.

South Korea’s Busan Bank raised Rmb500m ($78.62m) from its first Formosa bond last Friday, taking advantage of the arbitrage opportunity to swap the deal back to dollars.

Société Générale said on Thursday that deputy CEO Séverin Cabannes would take over supervision of global banking and investor solutions, a role vacated by Didier Valet over the bank's Libor investigation.

Vonovia, the largest residential property company in Germany, raised €1bn on Thursday night to finance its proposed acquisition of Victoria Park, the Swedish property company.

Investors appear certain that the Federal Open Market Committee will up its target rate at its next meeting in June, after this week’s gathering left levels unchanged, although expectations of further hikes have slightly fallen. Elsewhere, a supranational left next to nothing on the table as it brought a dollar syndication to market.