Last week’s three issues – Edenred, Veolia and GBL – were all at negative yields. This looks like a real trend.
German officials believe this is justified to safeguard bank profitability.
Lower interest rates and issuance premiums allow peripherals to finance more quickly.
The lingerie company opts for a direct listing on Euronext Growth.
The total net assets of Luxembourg-domiciled funds amounted to €4.48trn at the end of July, recording a 1.66% increase from June (€4.41trn).
The two banks have obtained the first two licences to lead underwriting of bond issuances by non-financial companies.
Société Générale has issued a two-year senior bond at a negative yield. Others may come later.
In an exclusive interview with L'Agefi, François Villeroy de Galhau, governor of the Banque de France, wonders if long-term interest rates' current state justifies immediate resumption of QE.
After E.ON, Orange and Engie, RTE on 2 September issued a 0% bond with an unprecedented eight-year maturity.