Société Générale

Credit Bank of Moscow looked set to test the limits of investor appetite for Russian bank paper on Thursday with the longest senior dollar deal from the jurisdiction since the start of the Ukraine crisis.

Fixed income investors have plenty supply to choose from out of Asia with seven issuers venturing out on Thursday. Corporates joining the fray included property companies Shokai Group and Golden Wheel as well as Guangxi LGFV and Hong Kong’s Li & Fung.

French private care home operator DomusVi on Monday joined a busy high yield pipeline with a new floater and an add-on to its debut bond to fund its second acquisition in Spain.

Sociéte Générale has created a China desk in Paris to cover Chinese corporates in France and provide services ranging from acquisition financing to capital markets.

Spain’s real estate investment trust Merlin Properties on Tuesday sold its second issue in a market where most eyes turned to Danone’s €6.2bn jumbo deal.

Commodity trader Gunvor is in the market to refinance its $1.36bn European revolving credit facility $210m of which is due to mature in November 23, according to three bankers.

Corporate bond investors had it well flagged to them that French dairy goods producer Danone would bring its jumbo five tranche offering this week, but it sparked excitement all the same when it arrived.

Several loans from Omani credits are being tipped to be launched this year, but, after several large deals, some bankers have concerns that lending appetite is waning.

Rating: Aaa/AAA

The long end will stay very much in vogue for euro issuers next week — which SSA bankers are predicting could be the last big window of issuance for the year.

The debut covered bond of BNP Paribas Fortis and the first in four years from SNS Bank were priced on Monday with virtually no new issue concessions and healthy levels of subscription.

Polish banks will be anxious to follow PKO Bank Hipoteczny which on Monday enjoyed a superb reception for its euro benchmark covered bond — the first from the country. Bill Thornhill reports.