HSBC is leading its third French equity capital markets deal in a month with the sale of an €80m ($103m) convertible bond for Ingenico, the credit card terminal manufacturer. The bank is working alongside Calyon, the French bank, on the deal.

Last month HSBC completed more than €1.4bn of equity sales in France with a block trade in Eiffage, a construction company, and the flotation of of Société des Autoroutes du Nord et de l'Est de la France, the toll road operator.