Société Générale
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The German pharmaceutical company, Stada, and the UK housebuilder, Miller Homes, both complete their high yield bond roadshows on Wednesday with the deals expected to follow before the end of the week. -
A big name in SSA and emerging markets syndicate has returned to the primary markets, joining the desk at a French bank.
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On Tuesday, Gecina, the French property company, printed a successful €700m long 10 year bond, having sold €1.5bn of bonds as recently as the end of June to help fund its acquisition of Eurosic.
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Swiss energy and commodities trader Mercuria is looking to raise $850m from a triple-tranche facility that was launched earlier this week.
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Geopolitical tensions around North Korea did not close the primary debt market this week, as Hyundai Motor Group’s US arm snapped up $1bn from a triple-tranche deal and Kookmin Bank priced a $500m trade on Monday.
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Interoute, a UK network and cloud services operator, is set to refinance its only high yield bond issue with a new leveraged loan that it launched this week.
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South Korean dollar bonds are hitting the market unabated despite a new missile launch from North Korea last Friday, with Hyundai Capital America and Kookmin Bank marketing new paper.
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Société Générale Corporate & Investment Banking has brought in a senior executive from London to head its Asia Pacific acquisition financing unit.
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Strong short end dollar demand led a host of issuers to print tight deals this week, including one debut. Investor appetite is expected to stay strong, but bankers are sceptical that there will be much supply.
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Guarantor: Kingdom of Belgium (51.41%), Republic of France (45.59%) and Grand Duchy of Luxembourg (3.00%)
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Korea Development Bank assured investors that all is well in the South Korean market by selling a closely watched triple tranche deal the day after the United Nations announced sanctions against its northern neighbour. The policy bank managed to grab $1bn, but the transaction wasn’t without its challenges. Morgan Davis reports.
