Société Générale
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Heineken launched a 10 year bond today, almost immediately after publishing its first quarter results, and ended up increasing the deal to €800m on strong demand. -
‘Rogue traders’ have struck again — Tijane Thiam, Credit Suisse’s chief executive, doesn’t seem sure quite how his traders ran up such large positions, but they’re being blamed for $750m of losses and writedowns since October 2015. The Swiss bank’s distressed debt desk joins a long line of unauthorised big losers stretching back four decades.
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Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, has mandated three banks for its debut euro bond — a deal that has been expected since 2014.
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Italy enticed investors out the curve on Tuesday with its first ever 20 year euro benchmark, offering a pick-up of around 40bp over where its 15 year benchmark — a more traditional pricing point for the sovereign — was trading in secondaries.
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Société Générale has named Frank Drouet as its new head of global markets, promoting him from his position overseeing global markets for Asia Pacific.
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Distribuidora Internacional de Alimentación, the Spanish discount food retailer, issued €300m of five year bonds on a busy Monday when there were two other deals in the market.
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Several of Europe’s IPOs moved forward today, with coverage and pricing updates and the launches of bookbuilds.
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Another blistering week for euro issuance from public sector borrowers brought a dual tranche 20 and 50 year benchmark from the French government that other sovereigns could ape — but only if their liquidity strategy allows it, writes Craig McGlashan.
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The European Investment Bank has announced its intention to build a benchmark curve in Polish zloty, after selling the first public trade in the currency from a supranational or agency issuer.
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The European Investment Bank has announced its intentions to build a benchmark curve in Polish zloty, selling the first public trade in the currency from an SSA issuer.
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A stream of SSA borrowers entered the primary bond market this week in both euros and dollars. Dual tranche deals were popular as borrowers sought to take size without paying heavy new issue premiums.
