French Sovereign
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A pair of SSA borrowers are set to squeeze a pair of benchmarks in on Tuesday just before the summer holidays period commences in earnest. -
Covered bond and SSA research analysts at Société Générale are set to leave the bank for other firms later this year.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of busiess on Monday, July 12. The source for secondary trading levels is ICE Data Services
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France stuck to its approach of engaging with investors during bookbuilding to persuade them not to inflate orders for its second syndication in a row this week, when the sovereign brought a new 30 year OAT to the market.
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Two public sector borrowers hit the primary euro market on Thursday, with the International Development Association selling its biggest ever bond in the currency and France’s Action Logement Services extending its curve with just its second ever trade.
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Agence France Trésor, the French sovereign debt office, has appointed a new chief executive to replace Anthony Requin, who has stepped down after six years in the role.
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France’s Action Logement Services (ALS) is preparing to issue its second ever bond, after making its debut in the capital markets in October 2019.
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France impressed SSA bankers as it paid a tiny new issue premium for a new 30 year OAT via syndication on Tuesday.
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France is preparing a 30 year OAT syndication, capitalising on a market that seems eager for paper that has snapped up an EFSF tap with an order book more than eight times subscribed.
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Agence France Trésor (AFT), the French sovereign debt office, has hired Antoine Mannevy as a debt market operations dealer.
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This week's funding scorecard looks at the progress French agencies have made in their funding programmes.
