Société Générale
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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.
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Sodexo has signed a revolving credit facility that has a margin linked to food waste reduction, as the French food services and facilities management firm joins a growing trend of corporates tweaking sustainability-linked deals to suit their characteristics.
