Société Générale

Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany

Bolloré and Eurofins Scientific became the first unrated names to tap the euro market in July this week, showing that the market is back on track by drawing comfortably oversubscribed trades.

The primary market for peripheral European covered bonds leapt back to life this week after a 12 week hiatus, with investors queuing up to buy a series of deals that emerged in quick succession.

Nationwide Building Society stood out on another busy day in the covered bond market, shaking off three rivals to print a €1bn mortgage backed bond on Thursday in line with Lloyds and Bank of Nova Scotia.

The Republic of Indonesia returned to the euro market on July 23 as it looks to extend its curve with a new 10 year offering.

Xinjiang Goldwind Science & Technology ventured into uncharted territory on July 16 issuing the maiden green bond by a Chinese issuer. While the deal is expected to be the first of many, investors were largely indifferent to the trade’s green credentials.

Telenet, Belgium’s largest cable operator and a subsidiary of Liberty Global, issued a €530m high yield bond on Tuesday, to refinance its 6.375% 2020 bond.

Three companies on Tuesday added to the prospects for corporate bond issuance in Europe this week. Bolloré and RWE are set to complete deals roadshowed in June while Eurofins scientific has given a new mandate.

World Bank joined a swarm of issuers looking to print in the dollar market with a mandate on Tuesday for the first 10 year benchmark in seven weeks.

Cellnex Telecom, the broadcasting tower business floated by Abertis Infraestructuras in May, marketed and sold its first bond issue on Monday, raising €600m.

Leveraged loans of €725m backing the merger of French private healthcare groups Vedici and Vitalia are being marketed at a bank meeting today.

Xinjiang Goldwind Science & Technology ventured into an uncharted territory on July 16 issuing the maiden green bond by a Chinese issuer. While the deal is expected to be the first of many, investors were largely indifferent about the trade’s green credentials.