Société Générale
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Investors poured into Belgium’s debut 50 year benchmark vintage this week, with demand so strong that bankers are confident other issuers could soon sip liquidity from the ultra-long tenor.
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David Escoffier, deputy head of global markets at Société Générale CIB and the former chief executive of Newedge, has left the French bank after 17 years following the promotion of one of his colleagues to run global markets.
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Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, on Thursday printed a €500m 10 year bond — its debut foray into the international bond markets — with leads building a €800m book for the note. -
French firm Fnac will imminently launch syndication of its loan to buy retailer Darty, after winning a bidding war with South Africa's Steinhoff. Meanwhile, banks supplying a £920m loan for the thwarted rival await instructions.
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Belgium cracked open its 50 year bond vintage on Thursday with a deal that drew plenty of praise — while the level of demand even surprised some of those working on the trade.
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French retailer Fnac will imminently launch syndication of its €1.35bn Darty acquisition loan, according to a banker close to the deal.
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Kuoni, the Swiss travel company, and Novacap, the French pharmaceuticals and chemicals firm, set price talk on their loan packages following bank meetings on Thursday morning.
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Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, on Thursday released initial price guidance for its 10 year euro deal.
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Tuesday and Wednesday brought a pair of private equity block trades following first quarter results, but nothing to match the fireworks of Monday night, when Credit Suisse placed £1bn of stock in SABMiller for Kulczyk Investments at a 0.88% discount.
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Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.
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The Asia Pacific loan syndicate team at Société Générale is seeing changes at the top with the current head of the division relocating to Europe.
