Société Générale

Czech telcoms firm Ceska Telekomunikacni Infrastruktura (CETIN) attempted to throw off any emerging markets tag it bears on Tuesday, printing a €625m trade after a long marketing period tailored to investment grade funds in western Europe, according to two bankers on the deal.

Companies are continuing to use windows for corporate bond issuance ahead of Sunday’s Italian referendum, as three borrowers hit the euro bond market on Tuesday.

After several weeks of discussions with investors Ceska Telekomunikacni Infrastruktura (CETIN) finally hit the screens with a new bond on Tuesday – though it had to sweeten the deal with a coupon step-up – and had pulled in over €1.4bn of orders by mid-morning.

Société Générale has promoted two senior equity capital markets bankers.

After almost two years away from the market, Thomas Cook opened a three day roadshow on Tuesday for a new euro deal, which will redeem its only sterling bond and portions of its 2020 euro notes.

Adecco and ASML won single digit new issue premiums on a positive day in the corporate bond market on Wednesday, but both issuers’ order books dropped when they tightened pricing.

Heineken was the first of five corporate issuers on Tuesday to wrap up its offering, in a rush of supply that took advantage of a more stable backdrop in rates markets.

The euro market for public sector borrowers repoened on Tuesday as a pair of issuers took advantage of calmer conditions since the US election on November 8 to raise nearly €2bn in total — both paying small new issue premiums.

KfW was able to increase from its original size target and tighten pricing on Tuesday with the first public sector dollar bond of over $1bn since the election of Donald Trump as US president.

FMO is set to raise a minimum of Skr500m ($54.25m) with a seven year sustainability bond on Tuesday, while KfW plans to bring a dollar green bond.

Agence Française de Développement on Monday mandated banks for what is set to be the first euro benchmark from a public sector borrower in nearly a month.

Ceská telekomunikacní infrastruktura (CETIN) is planning to issue a five year bond, the second issuer to test the new period of volatility following the election of Donald Trump as US president.