Société Générale

The phenomenal levels of demand hitting the investment grade corporate bond market were evident again on Tuesday, as German property firm Alstria Office was vindicated in delaying its €500m offering.

The Islamic Corporation for Development has released initial price guidance for its dollar benchmark five year sukuk and is expecting to print the note later on Tuesday.

LeasePlan Corp, the Dutch car finance bank that recently struggled through tough bond market conditions to price a €1.55bn subordinated high yield deal to finance its takeover by a group of institutional investors, had a very different experience on Monday when its first senior bond issue since the takeover was a huge hit with investors.

AkzoNobel, the Dutch paints, coatings and chemicals company, issued a €500m 10 year bond last Friday that achieved a deeply negative new issue premium, as investors piled in ahead of the European Central Bank’s expected corporate bond buying programme.

Telekom Slovenia, a firm downgraded four times in the last five years, has secured a €300m loan to refinance a bond, the move will strengthen its Ba2 rating according to Moody’s.

Sébastien Domanico, the global head of FIG DCM at Société Générale, has resigned from the bank.

TDF Infrastructure, the French broadcasting infrastructure operator, issued an €800m bond on Thursday, which brought in more demand than its last offering.

Bankers were predicting a return of senior Turkish financial supply after Isbank achieved nearly four times oversubscription for its market reopener on Wednesday.

Isbank reopened the senior market for Turkish financials in style on Wednesday with an oversubscribed deal that was priced tight to the issuer’s existing curve.

Isbank emerged on Wednesday with the first senior deal from a Turkish financial borrower since last April.

Trafigura, the commodity trading company, cut the margin of its European loan in its latest refinancing to the lowest level since before the global financial crisis, but also received fewer commitments.

French industrial minerals producer Imerys brought two tranches of €300m sub benchmark notes to the European corporate bond market on Wednesday and clinched minimal concessions.