Repacks and China make SocGen leading credit house

SocGen creates structured note from coupons on bonds held by SGIS

Marc Saffon, SG

The two most notable stories in credit over the past 12 months have been the re-emergence of credit repack structures and the opening up of the Chinese onshore market to overseas investors. Tightening spreads and lower yields in credit markets have also forced banks back to the drawing board to develop new solutions as clients chase yield in a normalised volatility environment.

Societe Generale has been active in both credit repacks and facilitating onshore China access, executing large transact