by bondevalue | May 19, 2021 | Financial Institutions, Perpetual Bonds
SocGen raised $1bn via a Perpetual non-call 5Y (PerpNC5) AT1 bond at a yield of 4.75%, 50bp inside initial guidance of 5.25% area. The bonds have expected ratings of Ba2/BB/BB+. The first call date is on May 26, 2026 until which the coupon will be fixed. If not...
by bondevalue | May 6, 2021 | Banks
SocGen reported group net profits of €814mn, a sharp increase over 1Q2020 losses of €326mn. The bank’s equities business had its best quarter since 2015, with revenues rebounding 44% QoQ and Fixed Income & Currency saw revenues jump 51% QoQ. Cost of risk stood at...
by bondevalue | Mar 29, 2021 | Banks
French banking major Société Générale (Socgen) is said to be in talks with asset managers Amundi and State Street to sell its fund business Lyxor, as per sources. The two frontrunners emerged after Germany’s DWS and US firm Northern Trust dropped out. Amundi and...
