Société Générale

Norilsk Nickel printed a new six year bond 15bp inside its curve on Wednesday, but the volume of orders that dropped from the order book from the order book suggested that not all were happy with the pricing.

The European Financial Stability Facility has launched a dual tranche, picking up a combined €5bn and putting to rest any concerns over its ability to pick up long dated funding.

Russian borrowers are wasting no time in dealing with the $7.29bn of corporate bonds about to come due. After a record $2.8bn poured into the asset class last week, it is easy to see why borrowers view this as the time to tap the market.

The European Financial Stability Facility (EFSF) will kick off its second quarter funding programme with a dual tranche. The deal hits screens as the European Central Bank cuts its asset purchase programme from €80bn per month to €60bn per month.

Sovcomflot reopened its 2023 bond on Monday as Norilsk Nickel looks to extend its dollar curve by a year.

Chinese iron and steel making conglomerate Hesteel Group Co has snapped up $500m on the back of a price rally in the steel sector onshore, with bankers praising the company’s efforts to woo accounts during a roadshow.

Electricité de France’s €4.018bn three-for-10 rights issue has been oversubscribed, despite the continuing alarming flow of headlines about the nuclear power industry, and the approach of a French presidential election that could bring the far right to power.

Credit Bank of Moscow reopened the new style tier two market for Russian issuers in style on Wednesday with a $600m deal that was five times subscribed.

Issuers from Greater China are dominating the dollar debt market, as they vie for investor attention on Thursday alongside a couple of south and southeast Asian names.

French industrial equipment lessor Loxam launched the financing backing its acquisition of Lavendon on Wednesday, an €850m three tranche high yield offering.

French cable manufacturer Nexans launched a €200m bond on Wednesday, bringing back the bookrunners on a bond sale it had to cancel two years ago — but this time, the market was ‘diametrically different’, said bankers.

Chatter about the 'Trump Dump' as investors lose confidence in US economic stimulus may be intensifying, but it has not produced the equity correction predicted, and capital markets in Europe are ploughing ahead, unfazed by the UK's triggering of Article 50 on Wednesday.