Société Générale

Crédit Agricole explicitly backed the newly proposed type of French senior debt in its full year results this week, as support for the asset class appears to be spreading across the country’s financial institutions.

Saverglass, the French bottle maker, has allocated its €365m loan at tight pricing with syndication not proceeding past the early bird stage.

Société Générale has named Sayan Das its head of financial institutions group in India, a newly created role at the bank.

Austria has printed €5bn in a dual tranche issuance, pricing in 10 and 30 year tenors as the sovereign took advantage of a window of opportunity arising from a rally in global equities.

Emmanuel Smiecench, former managing director on the sovereign, supranational and agency syndicate desk at Société Générale, has returned to the market.

More banks are expected to bring dual tranche trades in the coming days to get a jump start on 2016 funding, with issuers distrustful of primary market conditions.

Carnival Corporation, the US cruise ship operator, returned to the euro bond market for the second time in under four months with a €500m five year deal on Monday.

Austria is to print a 10 year benchmark as investor sentiment rebounded after a torrid time last week as BNG priced a seven year bond.

Multiple FIG bonds hit the primary market for the first time in a month on Monday as European bank stocks continued their rebound to ease the pressure on borrowers.

Belgian telecommunications company Telenet, which is owned by Liberty Global, has drawn on €1.2bn of loans to fund the €1.325bn acquisition of Belgian mobile operator, BASE.

It was hard to tell which was more worrying this week: the see-saw action in bank stocks, or the one-way tumble in additional tier one bonds. The only conclusion bankers and investors could offer is that, whether or not the industry is on the cusp of another meltdown, the issues of capital and funding are paramount once again. Graham Bippart and Tyler Davies report.

Royal Dutch Shell has cancelled its £10.07bn ($14.56bn) bridge loan, instead opting to pay for the cash element of its $82bn acquisition of BG Group with cash on balance sheet.