France

Shares in the French game publisher fell more than 8% after the convertible and delta placed

Retail bid to the rescue as central bank bows out

◆ French insurers offer the two most desired elements in FIG ◆ Deal prices with 10bp NIP and large oversubscription ◆ More subordinated issuance may follow as market is very strong

◆ French insurer Coface prepares 10 year tier two bullet after Banco BPM restarts AT1s in euros ◆ Strong uptake for lower tier issuers' credits as they offer higher yield ◆ More investors now looking at subordinated debt

Investment grade companies have been a major driver of convertible issuance in 2023

Alstom conceded defeat to the stockmarket this week and confirmed it may need a rights issue

Saint-Gobain, Kering and EnBW join buzzing corporate debt market

Nearly new borrower lands one of the tightest spreads of the year

High beta and long duration back in demand after US inflation falls

Shares in the French rolling stock manufacturer plummeted last month after a profit warning

Big books for Veolia hybrid and Arkema raise hopes of decent volume

Bankers away from the deal put the NIP at 1bp to 2bp