Société Générale
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The FIG market was blown open by Greece’s approval of reforms this week, but some bankers are concerned it may have come too late for the bank capital market. -
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Aéroports de Paris reopened the corporate bond market on Wednesday after two weeks’ silence, using an attractive new issue premium to amass a hefty order book for a €500m deal.
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Metalloinvest’s $750m loan was no picnic for lending banks — the Russian miner self-arranged the deal and pushed hard on pricing — but this tenacious deal will not encourage a run of Russian deals soon, according to bankers.
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Verallia, the French glass bottle maker, started sounding investors on Thursday for an €860m-equivalent bond to finance its acquisition by alternative investment fund Apollo Global Management.
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Deutsche Wohnen, the German property company, issued its first conventional bond on Thursday, benefiting from strong market sentiment after Greece’s parliament approved a new bailout package.
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Xinjiang Goldwind Science & Technology went live this week with what will be China’s first green bond. The trailblazer drew plenty of attention, with more deals expected both on and offshore once the country’s green bond regulations are finalised later this year.
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Santander Consumer Finance and Société Générale both opted for defensive three year senior unsecured trades on Thursday, the first euro benchmark FIG deals in three weeks.
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South Korea’s Nonghyup Bank made a rapid return to the offshore bond market on July 15. Having learned lessons from its reduced outing last year, the Korean lender shuffled its banks and opted to raise just $300m. More importantly, bankers believe this deal could act as price guidance for Kookmin’s upcoming covered bonds.
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Aéroports de Paris reopened the corporate bond market on Wednesday after two weeks' silence, using an attractive new issue premium to amass a €5bn order book for the €500m deal.
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Russian iron ore producer Metalloinvest has signed a $750m pre-export finance facility, becoming the first Russian corporate borrower to follow Uralkali into the international syndicated loan market this year.
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Tianjin Binhai New Area Construction & Investment Group Co and Nonghyup Bank braved volatile market conditions to open books for their respective US dollar bonds on Wednesday, as the world waits for signs of a concrete debt restructuring deal from Greece.
