Société Générale
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Plastic films and base oils maker, Shandong Qingyuan Group, has invited participation from retail banks for a $500m three year borrowing. -
The Lebanese Republic has mandated four banks to tap into the long end of the bond market with a multi-tranche dollar deal, ahead of what bankers expect will be another busy start to the week ahead of Wednesday’s Federal Open Market Committee meeting.
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Swiss telecom company Salt Mobile asked bondholders to waive covenants on some of its old notes while it also tapped them and sold a new floater on Thursday, all to fund a dividend to its owner NJJ Capital. The deals came to fruition but left some bankers and investors concerned about market discipline.
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The European Investment Bank (EIB) maintained a pledge to build a benchmark curve in Polish zloty on Thursday, returning to the market for the fourth time in a year.
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The European Investment Bank maintained a pledge to build a benchmark curve in Polish zloty on Thursday, returning to the market for the fourth time in a year.
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Toronto Dominion had less luck than its Canadian peers when it issued the third sterling Canadian covered bond of the year this week. Even though the transaction offered a hefty concession there was only sufficient demand to issue in half the size of the previous deals.
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Covered bonds issued this week by Axa Bank and Lansforsakringar Hypotek (LF Hyp) were priced at — or inside — fair value, partly reflecting a technical squeeze that was aggravated by the European Central Bank’s move to step up purchases in the secondary market.
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Salt Mobile, the Swiss telecom company, is asking an issuer-friendly HY market to tap some of its old bonds, waive covenants on them, and fund a dividend to its owner NJJ Capital with a new floater.
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The French government has sold the rights to new Electricité de France shares it does not want to take up as part of the company’s €4bn rights issue, though an accelerated bookbuild launched on Tuesday night.
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Multilateral development banks will focus more on providing credit enhancement and support to help small, emerging market borrowers bring their green bonds to market, according to the head of climate change at the European Investment Bank. Meanwhile, a French region visited the green market on Tuesday.
