Société Générale

Banks are lining up for Pelabuhan Indonesia II’s $1bn loan that opened into general syndication in October. State ownership and its operation in a strategic industry has helped the company attract a good response.

The European Financial Stability Facility on Wednesday joined an elite gaggle of issuers able to raise 10 year cash at levels through mid-swaps.

Russian private bank Otkritie Financial Corp Bank (formerly Nomos Bank) has surprised the market by beating peer Promsvyazbank to sign a syndicated loan. In doing so, it becomes the first Russian bank to achieve a loan with international lenders since the EU and US imposed a deeper round of sanctions – specifically targeting loans to Russia – on September 12.

CNP Assurances benefited from a lack of insurance supply when selling a perpetual tier two deal on Wednesday, setting the stage for other insurers to tap the market over the coming week.

The senior unsecured market made up for a slow start to the week on Wednesday as three deals hit screens. Lloyds was able to draw a hefty order book for a seven year fixed rate print, while Danske Bank and Morgan Stanley sold floating rate notes.

Faurecia, the French car parts manufacturer, has refinanced a €1.15bn undrawn loan facility, hiring 10 banks.

Banks are lining up for Pelabuhan Indonesia II’s $1bn loan that opened into general syndication in October. State ownership and its operation in a strategic industry has helped the company get a good response.

Guarantor: Republic of Austria

Finnvera looks set to join the euro benchmark pipeline for the rest of the year after hiring banks to hold investor calls on Monday. The European Financial Stability Facility is set to bring a deal this week after circulating requests for proposals last week, while OeBB-Infrastruktur was first out of the blocks in euros on Monday.

On Friday Nestlé extended by a year €5bn five year revolving credit facility it had signed in October 2013. The Swiss foods producer also replaced a €5bn-equivalent short term facility with a new facility of €6bn.

BNP Paribas’s traditional strength in fixed income paid off in its third quarter numbers, as the return of volatility in September allowed it to turn in a solid performance in FX and rates. Meanwhile French rival Société Générale had a tougher quarter thanks to sliding equity volumes, though it still reported strength in its market-leading equity derivatives business.

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