Société Générale
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New role was created by reorganisation in spring -
Bund-swap spreads are heading to uncharted territory with little to stop them, which could cause a headache for SSA issuers
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◆ French issuer ends year-long absence ◆ Pricing was inside fair value ◆ Triple-digit spread over swaps
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◆ World Bank returns to five year dollars ◆ Rare IDA 10 year on offer in euros ◆ Supra open for business until year-end
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◆ Deal comes earlier than expected ◆ 20 new investors, including a European supranational ◆ Two green bonds done this year
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Bumper September brings post 2020 peak
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Tech firm to repay part of WMWare financing after biding its time
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◆ Swiss Life resuscitates euro capital issuance ◆ Rarity, company size help drive price through fair value ◆ Sogécap avoids French concerns
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◆ Inflation-linked products ‘more than welcome’ ◆ Record euro linker book ◆ Ten-year plus bid draws demand
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◆ ESM wraps up 2024 funding early ◆ EFSF already completed its annual programme ◆ Issuer seen taking careful approach to pricing
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◆ Issuer returns after seven months, leaves door open for another trade ◆ Tenor, pricing strategy carefully thought out ◆ French agencies test new tights to OATs
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◆ Long-dated euro bonds flourish before ECB meeting ◆ Book doubles after cautious 1bp tightening ◆ Strategy was to ensure secondary performance
