Société Générale

Italy drew a more than a twice oversubscribed book on Tuesday and priced well inside guidance as it brought its second syndication of the year, a €3bn May 2028 inflation-linked BTP.

Singapore-listed commodities trader Noble Group returned to the international bond market on Monday after a hiatus of nearly three years. Despite the continuous noise around the credit, investors appear to have put the company’s past behind them as they piled into the $750m deal.

Italy has mandated banks for its second syndication of the year, after a month in which its spread to closest peer Spain has tightened.

The European Stability Mechanism has nipped in ahead of a European Central Bank Governing Council meeting later this week to mandate banks for a 10 year euro benchmark. Other euro supply this week could come from Région Île-de-France, which held a global investor call on Monday for a green and sustainability bond.

Singapore-listed commodities company Noble Group, ICBC International and China SCE Property Holdings were out of the gates on Monday morning for new dollar outings, coming before a widely expected Federal Reserve rate hike this month.

Cerba Healthcare has scheduled the bank meeting for its much anticipated buyout loan package for Tuesday.

Nyrstar, the Belgian zinc smelting company, on Friday priced a single-B rated €400m high yield bond, and has launched a tender offer to buy back a €120m 2018 convertible bond.

The market for socially responsible investment (SRI) bonds is enjoying a burst of activity, as sub-sovereign borrowers from both sides of the Atlantic hit screens in green.

Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.

UBS’s co-head of global capital markets for Australasia Dane FitzGibbon is leaving the bank, according to sources close to the move.

Sustainability bonds are the flavour of the week for regional issuers, as the State of North Rhine-Westphalia smashed the size record for sub-sovereign SRI bonds on Tuesday and Île-de-France hit screens to announce its own socially responsible investment bond.

South Korea’s Hyundai Capital Services timed its $600m outing well, thriving on its strong name recognition and the variety it added to the debt market to put together a fairly priced deal.