Société Générale

With as many as three issuers bringing new deals as banks finally grasp the mounting investor appeal of socially responsible debt, the FIG market is on course for its greenest year ever, writes Tyler Davies.

French non-performing loan servicing firm MCS Groupe printed its €200m five year floating rate note at 5.75% over Euribor on Wednesday. The deal received a boost in trading on Thursday as the market welcomed the Fed’s decision to hold interest rates.

French retail group Fnac printed its €650m seven year notes at 3.25% on Thursday, below the deal's initial price range, as it won plenty of demand from domestic investors.

The Community of Madrid on Wednesday priced a eight year euro syndication fractionally inside the Italian sovereign curve.

Spanish online travel agency eDreams increased the size of its bond to €435m on Tuesday, a deal which investors struggled to find comparables for.

Tessi, the French payment processing firm, has allocated its €276m deal after marketing began in June.

After a storming run of issuance, with eight deals in the market last week, high yield deal flow has slowed but not stuttered as Fnac, eDreams and MCS all roadshow potential deals.

The Autonomous Community of Madrid has announced that it will sell its third benchmark of 2016.

Rabobank and Société Générale will join Berlin Hyp in the green bond market this September, as FIG issuers look to surpass last year’s total green funding volume.

Details have emerged on a $900m triple-tranche borrowing for Mercuria Asia Group Holdings and Mercuria Energy Trading, which has launched into syndication.

Société Générale's UK country head, Ian Fisher, has been given a new jobe on the firm's management committee, as head of the culture and conduct programme. Sadia Ricke will take over Fisher's responsibilities as UK head in January.

The Flemish Community of Belgium has announced that it will roadshow a euro syndication on September 26, while KfW has mandated three banks to sell a benchmark.