Société Générale

Koninklijke KPN, the Dutch telecoms company, on Tuesday boosted the size of an initial €1bn offering after books were five times covered despite competing against three other borrowers for investors’ attention.

German chemical company Evonik hit the reopened European investment grade corporate bond market at pace on Tuesday, as it sought financing for its €3.5bn acquisition of US industrial gas provider Air Products’ speciality and coating additives business.

The European Investment Bank this week cut the ribbon on the post-summer market for large dollar benchmarks, although there were more than a few nervous glances ahead to this Friday’s Jackson Hole speech by US Federal Reserve chair Janet Yellen.

Loan bankers expect more activity from Russian borrowers in the final months of the year, as Norilsk Nickel prepares to come to the market and rumours circulate of a large M&A financing.

Russian metals producer Norilsk Nickel is gearing up to launch a loan with international banks, having already secured a large unsecured facility from Chinese banks this year.

DBS Group Holdings has hired five firms to prepare its maiden dollar-denominated additional tier one bank capital offering.

Demand for subordinated debt in dollars has been unrelenting this summer, and has shown few signs of fading. As Europe’s banks look ahead to a busy September in the euro market, there is more than enough motivation for issuers to give dollars one last hurrah, writes Tyler Davies.

Gunvor Petroleum Rotterdam, part of Gunvor Group, has secured a $200m project finance loan to develop is refineries and infrastructure.

Abu Dhabi investment firm Waha Capital has signed a $500m loan with a number of international banks from the original facility missing from the refinancing.

Standard Chartered and Société Générale were both marketing dollar-denominated tier two bonds on Tuesday, as they looked to add to the $10.45bn of loss-absorbing debt Europe's banks have already raised in the US this month.

Commodities trader Noble Group is in the spotlight again after Fitch and Moody's published divergent ratings on Monday. Fitch took a more benign view on Noble, but Moody's downgraded it to B2 from Ba3 with a negative outlook.

Morrison Utility Services launched on Wednesday £170m of loans to early bird syndication, bringing supply to a market where sterling issuance has dropped more than 55% year to date.