Société Générale

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.

Two french firms, digital services specialist Econocom Group and research company Ipsos, have both launched Schuldscheine this week with initial sizes of €125m that can be increased.

TUI AG, the German tourism company, on Wednesday became one of only five double-B rated borrowers which have been able to print sub 2.5% coupons this year.