Société Générale

Commodity trader Mercuria signed its latest refinancing on November 18, with 28 banks joining during general syndication. Although the loan was oversubscribed by about 60%, Mercuria decided to cap the borrowing at its launch size of $1bn.

Publicis Groupe’s $3.5bn loan for acquisition of Sapient will have 10 relationship banks, led by Citigroup. Some banks with which Publicis previously had a banking relationship with are missing from the list.

China National Petroleum Corp (CNPC) may be a regular in the debt market, but it managed to reposition itself through its latest $1.5bn trade thanks to a first time guarantee from the parent. Such was the response from investors that it added a floating rate note during bookbuilding.

Commodity trader Mercuria signed its latest refinancing on November 18, with 28 banks joining during general syndication. Though the loan was oversubscribed by about 60%, Mercuria decided to cap the borrowing at its launch size of $1bn.

Mercialys, the French property company spun off from supermarkets group Casino, priced a €550m 8.3 year bond on Tuesday, in conjunction with a buyback offer for its €650m 2019 bond, to extend its debt maturity profile.

Fomento de Construcciones y Contratas, the Spanish building and environmental services company, is close to reaching agreement with its creditors on a debt restructuring, according to a spokesman for the company.

China National Petroleum Corp is back in the market, launching a deal on the same day and sticking its formula of launching a multi-tranche trade in dollars but unlike previous trades that have used a keepwell agreement, the new bond will have a guarantee from the parent which has led to an upgrade from the ratings agencies.

United Asia Finance (UAF) has launched a HK$2bn ($258m) dual tranche loan into senior syndication with two banks. The borrower is making a rapid return to the loans market, having sealed its last financing as recently as April.

Publicis Groupe's $3.5bn loan for its acquisition of Sapient, the marketing and consulting company, is near closing, according to a banker working on the deal. A syndicate of relationship banks has been invited.

Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buyout by Oak Hill Capital Partners.

Vietnam’s Masan Group has opened books on what will be the longest bond issued under the Asian Development Bank’s debt guarantee scheme. It is one of two companies with bonds out under the scheme.

A flood of financial institution bond issuance this week concluded on Friday with a brace of tier two deals, from Standard Chartered and Italy’s Generali.