Société Générale
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Middle East banks are still drumming up strong demand from the loan market despite bearish ratings for the region this week, with Qatar National Bank and Emirates NBD testing the market. -
The Gulf region is on for a record first five months of the year with Qatar, Noor Bank, Etihad, DP World all mandating for bonds this week, while Petrobras printed an eye catching $6.75bn deal.
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Ooredoo, one of the largest telecommunications firms in the Middle East and Africa, is refinancing a $1bn three year revolving credit facility, according to two bankers.
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Ceské dráhy, the 100% state-owned Czech national railway operator, launched its €400m seven year bond on Wednesday after tightening price guidance twice.
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After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.
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Swiss chocolate manufacturer Barry Callebaut was on Tuesday five times subscribed on a bond offering after testing European investors’ palates during a five day roadshow.
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DP World, one of the world’s largest port operators, has mandated nine banks for a dollar sukuk and is looking to price the deal next week.
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Citi and Société Générale met with healthy receptions for their respective senior unsecured transactions on Tuesday, as issuers piled into the market following the close of the first quarter earnings period.
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Maisons du Monde, the French furniture retailer, launched its IPO bookbuild on Monday, with UK, Dutch and South African companies as the main comparable stocks. On Thursday, the leads said the deal was covered.
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The IPO of Philips Lighting, though smaller than some bankers had expected, has got off to a good start, achieving coverage on Tuesday night, after the bookbuild began on Monday.
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Redes Énergeticas Nacionais, the Portuguese electricity and gas transmission grid operator, said on Monday that it will issue new bonds after completing a tender of outstanding notes.
