Société Générale

Rarely has confidence in equity markets been more savagely battered during August than this year. But hopes that issuance of new deals will be able to continue in the September-December season were raised on Tuesday by the launch of investor education for two IPOs.

Russian mining company Norilsk Nickel is undertaking series of investor update meetings in early September.

Merck broke a three week hiatus in euro corporate issuance on Thursday, drawing together a hefty order book for a triple tranche M&A driven deal despite shaky markets earlier in the week.

Banque Fédérative du Crédit Mutuel has burst back into the market shortly after a summer blackout, raising €600m with a spree of floating rate medium term notes.

Société Générale’s head of EMEA structured finance and loan syndication has moved to a new job within the bank and his responsibilities have been assumed by two colleagues.

Société Générale’s head of EMEA structured finance and loan syndication has moved to a new job within the bank and his responsibilities have been assumed by two colleagues.

At least three Turkish banks have set up covered bond programmes and could theoretically be ready to issue their first benchmarks this autumn. However, even if the political outlook improves, the cost of funding in dollars using established senior unsecured programmes may be difficult to beat.

Russia’s Lukoil has signed a $440m syndicated loan with four commercial banks, as part of $1bn of loans backed by development banks.

Second quarter numbers for the big French banks tell the tale of two divergent markets – equities, which has had a buoyant quarter on the back of volatility, especially in Asia, and fixed income, which has languished as credit markets caught fright.

Jefferies has boosted its high yield trading business in London with the hire of a senior trader from Societe Generale.

Société Générale’s top tier equities trading businesses delivered for the French bank in the second quarter, delivering a 61% increase in revenues to €799m, nearly half of total markets revenue.

South Korea’s Kookmin Bank is sounding investors out for an upcoming covered bond that’s likely to hit the market as early as this week.