Société Générale
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High yield and emerging market crossover issuer Puma Energy saw demand of more than $2bn for a seven year non-call three year bond on Tuesday, prompting the issuer to slash pricing and increase the size of the trade. -
Elis, the French laundry services company, issued a €400m convertible bond on Tuesday to refinance its £2.2bn acquisition of Berendsen in the UK, which closed in September.
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Ireland returned to screens on Monday, mandating six banks for the sovereign’s first syndication since January. The proceeds from the issue will go to repaying the country’s remaining loans from the International Monetary Fund.
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Norsk Hydro completed its buyout of fellow Norwegian aluminium producer Sapa, valued at Nkr27bn ($3.38bn) on Monday, drawing in part on its existing five year revolving credit facility.
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Total, the French oil company, has been a frequent issuer of euro bonds, raising €7bn in 2016 and more than €5bn in each of the two previous years. However, it waited until the last week of September to sell its first new issue in euros in 2017.
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Turkey’s state-owned Ziraat Bank on Monday morning took orders of $1.25bn to print its second senior trade of the year in what bankers said was a notably softer market.
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CPI Property, a big owner of real estate in central and eastern Europe, took to euros for its first international bond on Wednesday, and in doing so priced the biggest ever real estate bond from the region.
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ING is planning to bring on a director of leveraged capital markets from Société Générale early next year.
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The euro public sector bond market bounced back in fine fashion this week after a shock result in the German federal election, leading to some well oversubscribed trades. A potential Catalonian independence referendum is also not affecting demand, said bankers.
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Société Générale CIB has promoted a banker internally to head its financial institutions group in investment banking.
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Both investment grade corporate bond new issues on Wednesday came from French issuers. Surprisingly, Total issued its first euro bond of 2017, while PSA Banque France sold its second.
