Société Générale

Areva, the French nuclear power construction group, issued a €750m nine year bond today that was solidly oversubscribed, but was not the blowout enjoyed by Teollisuuden Voima a week ago.

Indonesian power company has closed the limited syndication phase of its $1.127bn loan, which saw two commitments come in during general. But four additional lenders expected to join when GlobalCapital Asia last reported on the transaction have ditched the deal, according to a banker.

Energie Baden-Wuerttemberg launched a corker of a hybrid capital issue on Tuesday, raising €1bn to bolster the subordinated layer of its capital structure at blisteringly tight pricing, thanks to perfect timing after a drought of issuance.

Marcus Consolini, the ex-head of electronic execution sales and trading, Asia at JPMorgan in Hong Kong, has joined Société Générale.

Energie Baden-Wuerttemberg, the German electricity and gas supplier, is set to issue its second hybrid capital bond on Tuesday, after holding a conference call with investors on Monday.

Deutsche Bahn, the German state railway company, launched its first euro bond of the year on Monday, into an empty but slightly weakening market – often considered ideal conditions for this ultra-safe credit. It was rewarded with strong demand, especially from Asia.

Investors who missed out in the scramble for allocations on the heavily oversubscribed high yield bond issue from Obrascon Huarte Lain last week could shortly be given a second chance to buy into the Spanish infrastructure sector, with the announcement of a roadshow for Grupo Isolux Corsan.

The senior unsecured market started with a bang on Monday, despite the European market softening late on Friday.

ONGC Videsh, the international arm of India's Oil and Natural Gas Corp, launched its $1.775bn five year term loan on the evening of Friday, March 7, pricing the transaction at 165bp over dollar Libor.

State Bank of India has decided to increase the size of its loan to $420m from the original $300m, after 14 banks jumped on the transaction. But with a general launch still planned, it is likely to increase even further.

Syndicate bankers are primed for a busy period in dollars next week following the smooth execution of four benchmarks in the currency this week despite uncertainty and volatility caused by the situation in Ukraine.

British American Tobacco raised €1bn in the bond market on Monday, completing a hat-trick of deals by the three leading European cigarette makers. The transaction’s heavy oversubscription suggested there had been no impact either from the clustering of tobacco issuance, or from Russia’s alarming intervention in Ukraine.