Société Générale
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Budweiser Brewing Apac has delayed pricing its jumbo float on the Hong Kong Stock Exchange, according to a source at the company. -
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Budweiser Brewing Co Apac was set to price its multi-billion-dollar Hong Kong IPO at the bottom of guidance on Thursday, according to a banker on the deal.
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Société Générale attracted strong demand for its inaugural green Obligations de Financement de l’Habitat on Monday. The green covered bond put the French issuer at the “forefront of positive transformation” and “sets a standard”, said a spokesperson.
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Aroundtown, the German property company, chose Tuesday, when the European corporate bond market was otherwise empty of new issues to sell its second hybrid capital deal in as many months.
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Investors piled into euro trades from Italy and the European Financial Stability Facility on Tuesday, with around €25.5bn of demand for the names as more issuers line up.
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Ghana Cocoa Board, known as Cocobod, is likely to close its annual loan refinancing in September, and bankers expect it to have tight margins.
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Sovereign, supranational and agency borrowers have started the week with a bang, and syndicate bankers say they do not expect any slowdown of issuance in the coming days.
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Société Générale’s revamp of its investment bank, first announced in April, will refocus the bank’s financing efforts around sponsor-driven business, as corporate clients are not steering enough fees towards the bank to pay for its balance sheet commitments.
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An undersupplied sterling bond market was on Wednesday given two new corporate deals to chew on: a £350m three year from carmaker BMW and a £250m no-grow eight year from UK retailer Marks & Spencer. Abertis Infraestructuras, the Spanish roll road operator, also offered a €1.3bn six and 10 year deal.
