Société Générale

UNITe, the French renewable energy producer, has completed its first green Euro private placement. The deal will allow the company to draw the funding in instalments, a new feature for Euro PPs, though common in the US PP market.

European Central Bank president Mario Draghi did not disappoint with his latest burst of stimulus on Thursday — although some public sector bankers felt his latest efforts to boost the eurozone economy could have damaging effects on the SSA bond market.

After a string of strong syndications and auctions from the eurozone periphery during the last seven days, issuers from the region could be set to enjoy even lower yields thanks to the latest monetary stimulus package from the European Central Bank.

BBVA priced a well oversubscribed €1.25bn seven year with barely any new issue concession and a long way through the Kingdom of Spain’s spread.

State-owned oil giant Pemex became the second Mexican company to raise euro denominated debt this week, following the same strategy it took in dollars earlier in the year by focussing on the short end of the curve.

Two French leveraged loan deals were launched on Wednesday, both of which back leveraged buyouts, as the market claws its way back to issuing primary deals after a sluggish month.

All bonds great and small from the Iberian market were available on Tuesday, as the Spanish sovereign brought a long-awaited 30 year syndication and the Community of the Basque Country made a rare visit to the market.

Issuers lined up to print in euros on Tuesday as a vital European Central Bank meeting loomed later in the week — but bankers were divided as to how much the flurry of deals was down to concerns over the central bank meeting.

Commodities trader Trafigura has tightened pricing by double digit basis points on its European loan refinancing and expects to raise more than $5bn, according to sources.

The FIG senior unsecured market welcomed lower beta trades from DVB Bank and Dexia Crédit Local on Tuesday, as bankers started to turn their attention to Thursday’s European Central Bank meeting.

Core eurozone issuers are set to pepper the euro curve over the next two days, before all attention turns to a much anticipated European Central Bank meeting on Thursday.

Public sector borrowers from the eurozone periphery are preparing a flurry of issuance in the next few days, with one still smarting from a change to its rating outlook late last week.