Société Générale
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Swiss investors’ thirst for yield was quenched in some style at the end of last week, when Russian Railways printed the largest Swiss franc transaction of the year from an emerging market borrower.
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A pair of CEE corporates, Veon Holdings and NordGold, released initial price guidance for bonds on Tuesday, both offering paper after a break from international issuance. -
Neoen, the French renewable energy company, returned to the capital markets on Wednesday, following its popular €697m IPO in October last year, with a debut €200m convertible bond due in 2024.
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Initial price guidance has been set for two corporate bonds from issuers in the CEE region — EP infrastructure and Metinvest. Both deals expected to be printed later on Tuesday.
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Sopra Steria, a French consulting and computer services business, has raised €250m of Euro Private Placements (Euro PP).
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Alstom, the French maker of railway rolling stock, was the only high grade company to announce any corporate bond activity on Monday, as a public holiday in Germany and the huge flows of the last month kept the new issue market shuttered.
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Crédit Agricole, Banque Fédérative du Cedit Mutuel and Société Générale all took advantage this week of cheap funding offered by the sterling market when compared with the euro.
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Generali was the talk of the FIG bond market this week as it became the first west European financial institution to issue a tier two capital note in green bond format. The insurer’s pioneering spirit reaped rewards, with the green element variously estimated to have shorn 5bp-10bp from its cost of funding. That could tempt other firms to issue subordinated green debt. David Freitas reports.
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UniCredit forms sustainability team — UBS looks to raise game in green with SEB hire — SG reshuffles Paris ECM line-up
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Société Générale’s new Hedge to Pledge initiative has been two years in the making. By tapping into existing flows of FX trading, it will raise funds for a variety of good causes in partnership with Epic Foundation, an innovation that could embed charitable donation into routine financial practice, and therefore wins GlobalCapital’s industry initiative of the year.
