Société Générale

Pirelli, the Italian tyre maker, has revved up the year's loan market business with a €1bn facility signed last week, that the company said was three times oversubscribed.

The Slovak Republic has launched its new 12 year euro bond at 56bp over mid-swaps after a quick 2.5 hour execution process that began on Tuesday morning.

After the extraordinary fireworks of Santander’s €7.5bn block trade on Thursday January 8, the year’s more workaday business in European equity capital markets began in earnest on Monday, as five IPOs were launched.

Telecom Italia, Italy’s largest telecommunications operator, on Monday brought to the high yield market the first €1bn issue of the year, as part of a plan to repay slices of four other bonds.

Gecina, the French real estate investment trust, issued a €500m 10 year bond on Monday, attracting a vast order book and paying a small new issue premium.

German online hosting provider Host Europe will launch £535m-equivalent of leveraged loans this week, most likely on Monday afternoon, as part of its acquisition of Intergenia.

Eurofins Scientific, the French food and drugs testing company, has mandated three banks for an investor roadshow that could lead to a senior unsecured bond.

A week before the European Central Bank is expected to announce a programme of quantitative easing and Greece elects its next president, investors are loading up on senior unsecured paper from top names in FIG, and being paid big new issue premiums. Investors are demanding more in part because of fears of volatility in coming weeks stemming from the ECB and Greece, bankers said.

The Slovak Republic has mandated banks for a 12 year euro-denominated bond. With the sovereign’s curve trading tightly, bankers are suggesting that Slovakia may need to pay a decent new issue premium to tempt investors.

Emmanuel Smiecench has left Société Générale where he was head of SSA syndicate in London, covering both emerging market and investment grade deals.

Shanghai Jin Jiang International Hotels has wrapped up syndication of a $250m three year term loan with a group of five banks.

Port services provider Pelabuhan Indonesia II’s (Pelindo II) has asked banks lending to a $1bn loan to accept looser covenants on the borrowing. The changes come as the company is eyeing a bond issue that would increase debt on its books and make it difficult for it to meet the current loan conditions.