Société Générale
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Société Générale has appointed a new head of global markets for India, giving him responsibility for developing the bank’s markets activities, including derivatives, foreign exchange and rupee products business. -
Hyundai Capital Services opened books for a 144A/Reg S bond on Monday, its first outing this year. Issuers from South Korea have been active in DCM in 2017, but HCS will be the first non-bank financial credit from the country to woo investors.
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ParexGroup, the French construction chemicals maker, has scheduled a bank meeting for Monday for an €865m seven year term loan to refinance €700m of floating rate notes, as Irish telecoms firm Eir released price guidance on Friday for its €1.6bn loan refinancing.
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Caisse des Dépôts et Consignations (CDC) picked a tricky week for its first euro syndication in many years but, thanks to the deal’s green aspect, the trade went off without a hitch.
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French issuers appear unfazed by political turbulence afflicting their sovereign's curve, with two borrowers in the market this week. Meanwhile, the European Financial Stability Facility sold its largest deal tranche in over 2.5 years.
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Last year was a record in terms of number of downgrades of emerging market sovereigns, with another four added this year — Turkey, Mozambique, El Salvador and Costa Rica. But Société Générale on Friday became the latest firm to criticise the ratings agencies for their pessimism.
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Hochtief, the German engineering group, joined the ranks of blue-chip names in the Schuldschein market, launching a €150m deal on Tuesday.
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Nationwide Building Society this week issued its first euro benchmark covered bond since the UK’s referendum on leaving Europe and managed to find funding that was two years longer and half the spread of its last deal in February 2016. But it was unable to issue a 15 year.
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Nationwide sold a €1bn seven year euro benchmark covered bond on Thursday, its first trip to the market this year.
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Société Générale was marketing the first ever non-preferred senior bond in Swiss francs on Wednesday, as credit spreads for the country’s banks begin to recover after concerns about a far-right win in May’s French presidential elections.
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Electricité de France plans to bring its long-awaited rights issue to market in March, against the backdrop of a crucial presidential election campaign in France.
