Société Générale

Portugal priced an oversubscribed dual tranche benchmark on Wednesday afternoon, executing the deal during a sell-off in Europe’s periphery.

A bevy of periphery borrowers have picked this week to get deals away — to varying levels of success — as negotiations over the financial future of Greece take on a more positive tone.

Portugal is looking to take advantage of improving sentiment around Greece with a dual tap — but not every periphery issuer has been able to capitalise on events in Athens.

Cyprus dipped into a market that has become at least temporarily more relaxed about the prospect of a Greek default, raising €1bn of seven year cash.

UBM Group, the UK marketing and communications company, has signed a £400m five year revolving credit facility with its core relationship banks.

Club Med has allocated its €400m acquisition loan to early bird lenders, avoiding a process of general syndication, after commitments filled the book during its pre-launch stage.

Phil Hartley, global head of emerging markets rates trading, and Benoit Anne, global head of emerging markets strategy have resigned from Société Générale.

Indonesia Eximbank has received a stellar response during syndication for its latest loan, with commitments totalling $792.5m pouring in from 38 lenders so far. A lack of deals from sovereign backed Indonesian borrowers and an overall fall in pricing for such credits propelled the loan to success, said bankers.

The initial public offering of Spanish diet products retailer Naturhouse garnered sufficient demand from investors to go ahead this week, but was priced at the bottom of the range.

Elis, the French workwear and bed linen laundry company, priced an €800m bond on Wednesday, its first issue since its €750m Paris IPO in February, to refinance in full its senior secured and subordinated notes.

Unrated French laboratory testing company Eurofins Scientific has issued a €300m hybrid bond without a roadshow. It was the company’s fourth hybrid bond issue.

Electro Power Systems, a company that makes hydrogen-based batteries, has completed a €14.2m IPO on Euronext Paris’s compartment C. Its shares began trading on Wednesday, and rose 1.6%.