Société Générale

Danone returned to the corporate bond market on Monday for the second time this year, with a €750m 8.5 year bond.

Mercuria Energy has wound up its latest multi-tranche loan at an increased size of $1.1bn. The shorter one year portion proved popular among lenders, but a three year tranche ended up being scaled back.

The Republic of Indonesia has picked 10 banks for a 2016 bond panel and mandated four of them to work on a dollar offering that could raise up to $4bn.

The dollar market showed its appetite for diversity this week as Société Générale printed the first 30 year tier two bullet by a French bank and ING printed its debut green bond.

Financial institutions were left wondering how low green bond spreads could go this week, after Société Générale and ING Bank both priced very well subscribed deals virtually flat to their senior curves. Tyler Davies reports.

Groupe SEB, the unrated French domestic appliances manufacturer, pulled in a €2.5bn order book for a €500m no-grow bond on Wednesday.

Monte dei Paschi di Siena (MPS) issued a €1bn 10 year Obbligazioni Bancarie Garantite (OBG) this week. The deal came with a 2.125% coupon, the highest of any covered bond sold this year.

AP Moeller-Maersk, the Danish shipping conglomerate, this week issued its first benchmark euro bond since issuing a profit warning in October. Investors were price sensitive, but bankers away from the a €600m seven year trade were impressed with the book size for such a challenging story.

Green bonds are finally beginning to take hold among commercial banks, which could end up being the product’s main issuers.

The European Central Bank has given its strongest hint yet that it could introduce more monetary easing in December, as eurozone periphery issuers enjoyed falling yields and strong demand.

Asia’s nascent covered bond market welcomed Korea Housing Finance Corp’s first transaction in more than two years on November 12. Thanks to strong support from US and European investors, books built strongly and allowed the issuer to price inside its fair value.

Cores, the agency which stocks Spain’s fuel supplies, printed its first syndicated bond in over a year on Wednesday. French investors propelled the international demand for the paper.