Société Générale
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Swiss telecom group Salt Mobile printed a high yield fixed rate issue on Tuesday, its second deal this year, as it replaced floating rate notes with new bonds. They were priced at the wide end of guidance. -
Three issuers launched social bonds on the same day on Tuesday, which is likely a first for the SSA market. They raised a combined €1.5bn across five, seven and 10 years, with two of the deals managing to make dramatic moves in pricing thanks to what one banker called "superb conditions".
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Borrowers repricing and refinancing their debt are taking an ever bigger share of overall issuance in European leveraged finance markets. This week, Salt Mobile and Gates added to the already large list of names taking advantage of borrower-friendly conditions.
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Following French food company Danone’s recent hugely successful hybrid corporate debut, investors have been waiting for the next hybrid trade. This week they had two to consider.
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The public sector market for euro paper is providing superb execution for those borrowers that still have needs in the currency — but those are few and far between.
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Demand is so hot in Europe's corporate bond market, that with pricing being driven to ever tighter levels, bankers are beginning to believe the rally is self-sustaining, and would continue even without European Central Bank (ECB) support, writes Nigel Owen.
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The European high yield bond pipeline was stuffed with an array of mainly sub-benchmark deals this week, after issuance volume hit a historic high.
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The City of Paris printed a sustainability bond on Thursday, shaving several basis points from the spread during execution thanks to a healthily oversubscribed book.
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Société Générale has given additional responsibilities to two senior bankers working in the research department of its corporate and investment bank.
