Société Générale
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KfW is set to bring its first green bond in euros in nearly a year, with the deal coming amid a flurry of conventional trades in the currency. KommuneKredit is also in the SRI pipeline, after running a roadshow to introduce its green bond framework. -
Three public sector borrowers hit screens on Monday, mandating in a euro market buoyed by the defeat of National Front candidate Marine Le Pen in the final round of the French presidential election on Sunday.
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Olivier Gazzolo, head of FIC credit at Société Générale, has left the bank, GlobalCapital understands.
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Société Générale missed consensus for its first quarter earnings on Thursday, following a €963m legal settlement with the Libyan sovereign wealth fund. But the French bank’s results were otherwise robust, with a particularly strong performance in trading fixed income currencies and commodities.
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Senegal will meet investors next week ahead of a potential return to the dollar market for the first time in nearly three years.
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Elation in the euro markets after the first round of the French presidential election at the weekend continues to wash over the public sector bond markets, with the Province of Quebec selling its largest ever benchmark in the currency and Spain printing €5bn of inflation-linked paper.
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Credit Bank of Moscow (CBM) is released price talk for its first Basel III compliant additional tier one (AT1).
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Stocks across Europe enjoyed a relief rally following the victory of Emmanuel Macron in the first round of the French presidential election on Sunday, causing the blocks market to burst back into life after muted activity in the week before the vote.
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The European Financial Stability Facility on Tuesday priced a dual tranche deal that bankers are describing as possibly its greatest ever, laying to rest some of its other long dated trades this year that drew criticism. A pair of other issuers have also hit screens in a euro market enjoying what one syndicate head called “probably the best conditions we’ve seen in months”.
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Crédit Agricole attracted close to €4bn of orders for a new 10 year preferred senior bond on Tuesday, riding a tremendous rally in credit spreads following the weekend's well-received election result.
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Tullow Oil, the Anglo-Irish oil and gas drilling company, finished its £625m rights issue with a small rump placement on Tuesday morning.
