Société Générale
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Unlike the bruising encounter between their countries’ rugby teams over the weekend, the MTN world’s Irish and French representatives have gone a little bit soft.
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SocGen is selling its Asian private banking business in Singapore and Hong Kong, as well as selected parts of its trust business, to DBS for S$279 ($220m). -
Crossover credits ArcelorMittal and Fiat took advantage of a strong market to sell five and seven year euro benchmark bonds on Tuesday.
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The recent spurt of floating rate senior unsecured FIG issuance continued on Wednesday, as issuers look cut out the cost of basis swaps by issuing while demand for senior is hot.
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Russian iron ore producer Metalloinvest has signed a $1.15bn pre-export finance facility to refinance existing debt.
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GDF Suez, the French gas and electricity group, has launched a €5bn loan facility into the market, seeking to refinance debt early to take advantage of low loan margins.
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ArcelorMittal raised €750m of five year notes today, in its first bond issue since announcing the call of its hybrid bond in January.
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CEE sovereign issuers are standing firm this week, boldly pressing on with their bond issuance plans despite President Vladimir Putin's draft bill approving Russia's annexing of Crimea and the sanctions imposed on Russia by the US and the EU.
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Rallye, the unrated French holding company that owns 49% of Casino, the French supermarket chain, and 90% of retailer Groupe Go Sport, launched a bond issue today that investors jumped on, relishing its 4% yield. The €300m issue was increased to €500m.
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Volkswagen showed its elite status in the debt capital market again today by issuing €3bn of hybrid capital – the largest corporate hybrid ever sold entirely in euros.
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Carrefour Banque managed to brave and overcome the broad market turmoil that set in during the second half of last week, pricing its €500m senior unsecured floating rate note to become the only European senior issuer in the market on Friday.
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Société Générale is selling its Asian private banking business in Singapore and Hong Kong, as well as selected parts of its trust business, to DBS for S$279 ($220m) as the Singaporean banks pursues its goal of becoming a leading wealth manager in Asia.
