Société Générale

US corporate bond issuers got straight back to business after the July 4 weekend as 11 borrowers raised $10.8bn, though the volume of issuance is tapering off as companies head into earnings blackouts.

BBVA has become the first bank to print a green additional tier one (AT1) deal. When it was issued this week, it proved that the demand for socially responsible investments (SRI) extends to the riskiest of asset classes, meaning other banks are certain to bring out their own versions of the trade, writes David Freitas.

Italy's AMCO Asset Management capitalised on strong investor demand to launch a dual tranche deal in senior format on Thursday, attracting a wide range of investors, according to one of the lead managers.

Emerging market corporate bond supply grew on Thursday, with a strong showing from the Central and Eastern European region added to by Czech Gas Networks.

Central and Eastern European commercial real estate operator NEPI Rockcastle issued a green bond on Tuesday, attracting new investors to its debt.

Ghana Cocoa Board (Cocobod), which is in the market to refinance a one year $1.3bn loan facility signed in September, is facing troubles according to bankers on the deal, contrary to comments recently made by its chief executive.

TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.

BBVA became the first financial institution to issue green debt in additional tier one (AT1) format on Tuesday, launching a bond with a 6% coupon. The Spanish lender left no premium on the table, according to some market participants.

Amco Asset Management is looking to join the list of banks looking to print bonds in the rush to issue before earnings blackouts begin.

Spanish issuers were out in Europe’s corporate bond market on Monday, with Cepsa and Merlin Properties raising debt, as bankers and analysts expect a few weeks of “opportunistic” issuance in the run-up to earnings blackouts.

Société Générale and Natixis may face more questions over their equity derivatives businesses when they release their second-quarter results. The issue is whether their structured products are inherently problematic or simply suffered from freak events.

Belgium returned to the MTN market in euros on Tuesday with a 60 year note — its first private placement in the currency for over 18 months.