Société Générale

French agency Société de Financement Local will launch on Tuesday its first ever syndication.

The UK government has lent its voice to the growing current of international opinion that expansive monetary policy has gone far enough, and may even be harming growth. Britain is set to embark on a fiscal stimulus, likely to be welcomed by financial markets.

After a day of caution on Wednesday, when some issuers held back from the primary market after spates of volatility last week, unrated Air France-KLM timed its €400m deal right, showing that investors will still play for yield in higher risk names.

Italian electricity transmission operator Terna hit the European investment grade corporate bond market on Wednesday, shrugging off investor concerns about European Central Bank tapering of its asset purchases.

Rabobank found few problems opening books on its first green senior bond on Tuesday, and more banks could follow in the fourth quarter of what is already a record-breaking year for the format in FIG.

Sociéte Générale has made Brigitte Richard-Hidden its new head of cross-asset research, replacing Patrick Legland who is leaving the bank.

Bankers on and off the deal deemed the African Development Bank’s first foray into the euro market a success, thanks to the borrower's cautious approach to size and pricing.

Rating: Aa2/AA/AA

A chaotic start to the week for the euro corporate bond market saw one deal pulled on a combination of soured sentiment and aggressive pricing, causing issuers to engage in a balancing act before risk appetite returned in force at the end of the week.

The Asian Development Bank on Thursday sold the tightest priced SSA dollar benchmark of the year, as SNCF Réseau got off to a flying start with its first ever issue in the currency.

The African Development Bank’s funding team will be “heroes” if the issuer’s debut euro benchmark is a success on Friday, said SSA bankers away from the deal.

PKO Bank Hipoteczny has mandated leads to go on a roadshow with the first euro benchmark covered bond from Poland.