Société Générale
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French food and drugs tester Eurofins Scientific priced a €500m seven year bond on Tuesday, following a roadshow last week. The first unrated senior corporate bond deal of the year, it was three times subscribed. -
An HK$3.1bn ($400m) portion of an HK$4.46bn fundraising by CVC sponsored Hong Kong Broadband Network (HKBN) has hit general syndication, said bankers.
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Société Générale said on Monday that it would split the roles of chief executive and chairman. Frédéric Oudéa will drop the chairman role but stay on as CEO, while veteran central banker Lorenzo Bini Smaghi will join as chairman of the board.
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Thomas Cook, the UK travel agency, has launched and priced on Friday the first European high yield bond of the year from a single-B-rated borrower. It encountered the after-shocks from the Swiss National Bank's shock change of exchange rate policy on Thursday, but the company achieved its refinancing goals.
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A $3.1bn piece of Tata Steel’s $5.6bn multi-trancher was signed in December with 34 lenders. The deal has been singled out for praise by many loans bankers for its structuring that led to success despite the borrower operating in the troubled steel sector.
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A €5.5bn order book helped the Slovak Republic price its new 12 year euro bond in a record 2.5 hours on Tuesday morning. Strong credit fundamentals, which led to a rally across Slovakia’s curve, have enabled the borrower to price at its lowest ever yield for a long dated euro bond.
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Société Générale has hired a new co-head of corporate finance and head of German mergers and acquisitions to replace Jan Caspar Hoffmann, who left last year for Moelis & Co.
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German online hosting provider Host Europe set out price guidance on £535m-equivalent of leveraged loans on Thursday, as part of its acquisition of Intergenia.
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UK travel operator Thomas Cook is set to price its €400m high yield bond on Friday, riding a wave of successful high yield issues this week.
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Investment grade corporate bond issuance soared on Wednesday with a €1.75bn ($2.03bn) dual tranche deal from Toyota Motor Credit; benchmark bonds from Iberdrola and Evonik; and debuts from US Reit WP Carey, and UK charity the Wellcome Trust. In total, €4bn of bonds were issued.
