Société Générale

The Spanish government is set to price its privatisation of Aena, the state airport operator, this evening. The flotation of a 49% stake has attracted strong demand and looks set to be a big win for the government, potentially netting it up to €4.26bn.

Electricity Supply Board, the Irish power company, has amended and extended a €1.44bn loan facility with Intesa Sanpaolo and Santander joining the syndicate for the first time.

Tentative allocations are out for Indonesian oil and gas company Pertamina’s five year fundraising. The loan has been closed at a size of $1.747bn, with the dozen banks at the top that prefunded the money managing to sell down as per expectations, said bankers close to the transaction.

Host Europe, the German online hosting provider, has been delayed in closing books for its £535m loan for the acquisition of Intergenia, after the consent process for the deal took longer than expected.

Slovakia’s Eustream printed a €500m no-grow 10 year bond at 200bp over mid-swaps on Thursday late afternoon in London, the first investment grade corporate deal out of central and eastern Europe so far this year.

Santander was able to benefit from a strong bid for paper from the eurozone’s periphery this week, drawing a strong order book for a deal through its Santander Consumer Finance Subsidiary — bankers pointed to a more reassuring political situation in Greece as a reason to expect more deals from the region in the coming weeks. Meanwhile, Nordea was also able to appeal to investors with the first Scandinavian senior print of 2015.

Eustream has released price guidance for a €500m no-grow 10 year bond at 220bp area over mid-swaps. The deal is expected to be priced later on Thursday.

Russia's privately owned bank Promsvyazbank has launched a cash tender for its subordinated $200m 11.75% 2016s, its senior $400m 8.5% 2017s and its subordinated $600m 10.20% 2019s. The move is a show of strength from the bank as well as a routine management of the bank’s own liquidity and capital, said a liability management specialist on the note.

Ashley Wilkins, Société Générale's outgoing head of global finance for Asia Pacific, was in bullish mood this week as he prepared to head back to an as-yet undisclosed new role in the bank's UK operation. "We are firing on all six cylinders, not even just four," he said.

The French bank has been riding out the Russia crisis, where it has large exposures. But it also has big corporate finance plans elsewhere in Europe, writes David Rothnie.

Eiffage, the French construction company, is refinancing a €3.3bn term loan and revolving facility for its subsidiary Autoroutes Paris-Rhin-Rhône (APRR). Seven banks are underwriting the loan and syndication is planned to close next week.

Ashley Wilkins, Société Générale's outgoing head of global finance for Asia Pacific, is in bullish mood as he prepares to head back to an as-yet undisclosed new role in the bank's UK operation. "We are firing on all six cylinders, not even just four," he says. The bank has spent the last few years repairing and rebuilding in the region, and while a falling oil price brings difficulties for that process, current eurozone conditions offer new opportunities.