France SA reveals post-crisis zeal to expand bond funding

France has long been one of the most active hotspots of Europe’s corporate bond market, but that trend is accelerating. The jolt of seeing the banking system wobble in 2008 and 2009 was a mauvais quart d’heure that French corporate treasurers will not soon forget. Banks have stuck with their corporate clients, but both sides agree that big companies need to do much of their funding in the capital markets, so that they can continue to call on bank support when they really need it, such as for an acquisition. In EuroWeek’s roundtable, held in Paris in January, four leading corporate borrowers and three debt capital markets specialists discussed how companies can best secure market access and manage bank relationships – and whether the crisis is really over.