Société Générale
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A buoyant January in equities markets has been followed by a difficult start to February, with the first IPOs out of a full pipeline seeing some issues in marketing just as stock markets tumble across the globe. -
Rival bankers are keenly watching Credit Bank of Moscow’s trade as a barometer for the market this week. A sell-off in US Treasuries seemed to imply a higher borrowing cost for the issuer, though with price revisions to come, it is too early to say by how much.
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A pair of euro borrowers braved a tricky market on Tuesday, raising a combined €4bn despite heavy weather in government spreads. One opted for a defensive pricing strategy, while the other attempted to squeeze investors.
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US oil and gas company Kosmos Energy, which operates in Africa, has refinanced a reserve-based lending facility signed in 2015.
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Novares, the French plastic car parts maker, has begun bookbuilding for its rebooted €260m initial public offering on Euronext Paris.
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Romania issued €2bn of new debt with a dual tranche offering on Thursday, taking the largest portion of funds with a new 20 year bond.
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Two Russian issuers forged ahead with plans to issue Eurobonds this week, despite increasing noise around Russian sanctions that threaten to push spreads wider.
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The Republic of Poland exceeded its own and its leads’ hopes when it issued its second green bond this week. Piotr Nowak, undersecretary of state at Poland's finance ministry, told GlobalCapital that with 41% of green accounts participating, the sovereign had succeeded in diversifying its investor base.
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The investment grade corporate bond market has started February with intent, with Thursday registering as the second busiest day of 2018 so far.
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Republic of Romania offered investors a rare opportunity to buy sovereign debt from central and eastern Europe with a three digit spread on Thursday.
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Moscow’s Domodedovo Airport (DME) has named leads for dollar roadshows, potentially adding to the $2bn of supply from Russian issuers so far this year.
